Deal with QVT Financial consists of 6,367,853 shares sold at $6.57
By Devika Patel
Knoxville, Tenn., Aug. 30 - Achillion Pharmaceuticals, Inc. said it negotiated a $41.84 million registered direct offering of stock with funds managed by QVT Financial LP.
The company will sell 6,367,853 common shares at $6.57 per share, which is a 2.67% discount to the Aug. 29 closing share price of $6.75.
Settlement is expected Sept. 4.
Achillion is a New Haven, Conn.-based biopharmaceutical company that develops treatments for infectious diseases.
| Issuer: | Achillion Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $41,836,794
|
| Shares: | 6,367,853
|
| Price: | $6.57
|
| Warrants: | No
|
| Investor: | QVT Financial LP
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 4
|
| Stock symbol: | Nasdaq: ACHN
|
| Stock price: | $6.75 at close Aug. 29
|
| Market capitalization: | $476.55 million
|
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