Chelsea Therapeutics, Inc. Completes $18.2 Million Registered Direct Offering

CHARLOTTE, N.C., March 5, 2010 (GLOBE NEWSWIRE) -- Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) announced that it completed its previously announced registered direct offering to institutional investors. The final offering of 6.7 million shares of common stock priced at $2.72 per share along with warrants to purchase approximately 2.3 million shares of its common stock was led by Venrock and resulted in gross proceeds of $18.2 million and net proceeds, after deducting the placement agents’ fees and offering expenses, of approximately $16.8 million.

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