SAN FRANCISCO, Nov. 23, 2010 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (Nasdaq: MERR), acted as co-manager in Avanir Pharmaceuticals, Inc.'s (Nasdaq: AVNR) $88 million follow-on offering of common stock at $4.40 per share. The transaction closed yesterday.
Avanir will use the net proceeds from this offering for sales and marketing activities relating to its newly approved product NUEDEXTA™ (dextromethorphan hydrobromide and quinidine sulfate). In addition, the proceeds may be used for further clinical, regulatory and commercial development of NUEDEXTA, as well as potential business development activities and for general working capital.
Details on the transaction can be found at Avanir Pharmaceuticals Inc.'s website: http://www.avanir.com.
About Avanir Pharmaceuticals, Inc.
AVANIR Pharmaceuticals, Inc. is a biopharmaceutical company focused on bringing innovative medicines to patients with central nervous system disorders of high unmet medical need. As part of our commitment, we have extensively invested in our pipeline and are dedicated to advancing medicines that can substantially improve the lives of patients and their loved ones. For more information about AVANIR, please visit www.avanir.com.
About Merriman Holdings, Inc.
Merriman Holdings, Inc. (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services. Merriman specializes in three industry growth sectors: CleanTech, Consumer, and Media & Internet and Technology. For more information, please go to www.merrimanco.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on November 15, 2010, together with this press release and the financial information contained herein, are available on our website, www.mcfco.com. Please click on "Investor Relations."
SOURCE Merriman Holdings, Inc.