Somaxon Pharmaceuticals, Inc. (SOMX) to Raise $3.0 Million in Registered Direct Offering  
7/20/2012 9:41:07 AM

SAN DIEGO, July 20, 2012 (GLOBE NEWSWIRE) -- Somaxon Pharmaceuticals, Inc. (Nasdaq:SOMX), a specialty pharmaceutical company, today announced that it has entered into definitive agreements to sell approximately 9.4 million shares of its common stock and warrants to purchase up to approximately 4.7 million shares of its common stock to institutional investors at a combined public offering price of $0.32 per share and per warrant for aggregate gross proceeds of approximately $3.0 million. The warrants will have an initial exercise price of $0.46 per share, will be exercisable commencing six months and one day from the date of issuance and will expire on the fifth anniversary of the initial exercise date.