Chelsea Therapeutics (CHTP) Files $20M Common Controlled Offering

On November 26, 2012, Chelsea Therapeutics (Nasdaq: CHTP) entered into an amendment to our existing Controlled Equity Offering sales agreement with Cantor Fitzgerald & Co., or Cantor, pursuant to which we may offer and sell shares of our common stock having an aggregate offering price of up to $20,000,000 from time to time through Cantor acting as agent and/or principal. Sales through Cantor, if any, will be made on The NASDAQ Capital Market by means of ordinary brokers’ transactions at market prices, in block transactions or as otherwise agreed by Cantor and us. Cantor will use its commercially reasonable efforts to sell our common stock from time to time based upon our instructions (including any price, time or size limits or other customary parameters or conditions we may impose). We will pay Cantor a commission rate ranging between 3.0% and 5.0% of the gross sales price per share of any common stock sold through Cantor as agent under the sales agreement. We also agreed to reimburse Cantor for certain specified expenses and have provided Cantor with customary indemnification rights.

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