Lexicon Announces Oversubscribed $250 Million Private Placement of Equity Securities

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.