Synaptic in Deal to Raise $41 Million in Private Offering | GenomeWeb

NEW YORK, Aug 6 - Synaptic Pharmaceutical of Paramus, NJ, said it planned to raise $41 million in two stages of private financing.

Under the terms of the deal, investment firm Warburg Pincus has agreed to purchase 2.2 million series B preferred shares representing 19.9 percent of the company’s stock for $9.4 million. Warburg Pincus has also agreed to purchase additional convertible shares valued at $31.6 million in a second tranche combining series B and C preferred stock.

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