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news.Cadence Pharmaceuticals has received commitments from selected investors to purchase up to 9.2 million shares of Cadence's common stock at a purchase price of $5.34 per share pursuant to an effective shelf registration statement.
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The closing of the offering is expected to take place on February 20, 2008. The total number of shares to be sold in the offering may be reduced to 8.05 million and the gross proceeds may be reduced to $43 million pursuant to Nasdaq Marketplace Rule 4350(i)(1)(B) limitations, pending the determination of the applicability of such rule prior to the closing of the offering.