Marinus Pharmaceuticals Announces Pricing of Public Offering of Common Stock

RADNOR, Pa., May 28, 2020 (GLOBE NEWSWIRE) -- Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) (“Marinus” or the “Company”), a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders, today announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock at a public offering price of $2.50 per share. The gross proceeds of the offering to the Company are expected to be approximately $40,000,000, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, Marinus has granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

The closing of the offering is expected to occur on or about June 2, 2020, subject to the satisfaction of customary closing conditions.

Cowen and Cantor Fitzgerald & Co. are acting as lead book-running managers for the offering. SunTrust Robinson Humphrey is acting as a bookrunner for the offering. Oppenheimer & Co. Inc. is acting as lead manager for the offering. H.C. Wainwright & Co. is acting as co-manager for the offering.

Marinus intends to use the net proceeds of the offering to fund the development of its product candidates and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, clinical trial expenditures, acquisitions of new technologies, products or businesses, and investments.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-221243) previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on December 1, 2017.

A preliminary prospectus supplement relating to the offering was filed with the SEC on May 28, 2020 and is available on the SEC’s website at http://www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC’s website. Before investing in the offering, you should read each of the prospectus supplement and the accompanying prospectus relating to the offering in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus relating to the offering, which provide more information about the Company and the offering. Copies of the final prospectus supplement, when available, and the accompanying prospectus relating to the offering may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by telephone at [phone], or by email at [e-mail], or Cantor Fitzgerald & Co., 499 Park Avenue, 6th Floor, New York, New York 10022, Attn: Capital Markets Department, or by email at [e-mail].