SAN DIEGO--(BUSINESS WIRE)--AVANIR Pharmaceuticals (NASDAQ:AVNR) announced that it has completed the previously announced sales of 5,263,158 shares of Class A common stock at a price of $2.85 per share. As part of the sales of common stock, the purchasers also received warrants to purchase 1,052,633 shares of Class A common stock at an exercise price of $3.30 per share. The warrants become exercisable six months after the closing and then remain exercisable for a period of six months. The gross proceeds from the offering are approximately $15 million, before offering expenses and commissions, and the net offering proceeds are approximately $14.4 million. The securities were sold by AVANIR.
