Skip to content

Lexicon Announces Oversubscribed $250 Million Private Placement of Equity Securities

Vinson & Elkins advised Lexicon Pharmaceuticals, Inc. in a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $250 million.

Pursuant to the terms of the purchase agreement, Lexicon will sell approximately 2.3 million shares of series a convertible preferred stock, at a price per share of $108.50, convertible into approximately 115.2 million shares of its common stock, par value $0.001, to a select group of accredited investors pursuant to the terms of the purchase agreement. The transaction closed on March 13, 2024.

The Vinson & Elkins team was led by partners David Oelman and Jackson O’Maley, with assistance from associates Travis Ewing, John Frey, Connor Rabalais, Alex Riddle and Rylie Goldwait. Other key team members include partners Wendy Salinas and Lina Dimachkieh and associate Keleigh Carver.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting or connect with us on LinkedIn.

For more information, please speak with our media contacts.