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3 February 2012 - US diabetes and cancer therapies developer MannKind Corp (NASDAQ:MNKD) said on Thursday it had priced its underwritten public offering of units bundling common shares and warrants for estimated gross proceeds of USD75m (EUR57m).

The company is selling 31.25m units, each comprising one common share and a warrant to purchase 0.6 of a common share. The units are being sold at USD2.40 apiece. The four-year warrants are exercisable at USD2.40 per share. The shares and warrants are immediately separable and will be issued separately.

MannKind has granted the underwriters a 30-day option to buy up to an additional 4,687,500 shares and/or warrants to purchase 2,812,500 shares to cover excess demand. Jefferies & Company Inc, Piper Jaffray & Co and Cowen and Company LLC are acting as joint book-running managers, while JMP Securities LLC is serving as co-manager for the offering.

The transaction is expected to close on or about 8 February 2012.

The company will use the net proceeds for general corporate purposes, including R&D expenses, general administrative expenses, capital expenditures and working capital.

(USD1 = EUR0.760)</div>