Private placement nets $24.8mm for Jazz Pharmaceuticals

Jazz Pharmaceuticals (reformulates drugs for sleep and psychiatric disorders, neuropathic pain, and epilepsy) netted $24.8mm by selling 3.8mm common shares for $6.76 each (market average) to institutional investors and returning shareholders including Beecken Petty O'Keefe, Prospect Venture Partners, Prospect Associates, and affiliates of Kohlberg Kravis Roberts (KKR), Thoma Cressey, and Versant Ventures. Backers also received six-year warrants to purchase another 1.7mm shares at $7.37 apiece. Jazz will use the money to support the launch of its newly approved OCD/SAD product Luvox CR and to finish JZP6's Phase III trial for fibromyalgia. Lazard Capital Markets and Leerink Swann were the placements agents.