SAN DIEGO--(BUSINESS WIRE)--La Jolla Pharmaceutical Company (Nasdaq:LJPC) today announced the pricing of an underwritten public offering of 15,614,834 units, with each unit consisting of one share of common stock and a warrant to purchase 0.25 shares of common stock, at a price to the public of $1.92125 per unit for gross proceeds of $30 million. The Company expects that the net offering proceeds, after deducting underwriting discounts and commissions, will be approximately $28.2 million. The warrants, which represent the right to acquire a total of 3,903,708 shares of common stock, will be exercisable at a price of $2.15 per share and have a five-year term. All of the units are being sold by the Company. The offering is expected to close on May 12, 2008, subject to customary closing conditions.
