HOUSTON, Aug. 20, 2007 (PRIME NEWSWIRE) -- Encysive Pharmaceuticals Inc. (Nasdaq:ENCY) today announced that it has entered into definitive agreements with institutional accredited investors to purchase approximately 7.7 million shares of the Company’s common stock in a registered offering for gross proceeds of approximately $15 million before fees and expenses. The Company will also issue five-year warrants to purchase an aggregate of approximately 7.7 million additional shares of the Company’s common stock at an exercise price of $1.95 per share. The closing of the transaction is expected to take place on or before August 24, 2007, subject to the satisfaction of customary closing conditions.
