CAMBRIDGE, Mass.--(BUSINESS WIRE)--CombinatoRx, Incorporated (NASDAQ: CRXX) today announced that it has entered into definitive agreements with selected institutional investors to sell up to 5.6 million shares of its common stock, for an aggregate purchase price of $35 million in a registered direct offering. Under the terms of the offering, CombinatoRx will sell 5.6 million shares of its common stock at a price of $6.25 per share, which represents a 6.5% discount to the closing price on October 10, 2007. Net proceeds to CombinatoRx following payment of placement agency fees and estimated offering expenses payable by CombinatoRx are expected to be approximately $33.1 million.
