logo
Share SHARE
FONT-SIZE Plus   Neg

Achillion To Raise $41.8 Mln Through Registered Direct Offering

Achillion Pharmaceuticals, Inc. (ACHN) said Thursday that it has entered into a definitive agreement with funds managed by QVT Financial LP for the sale of about 6.37 million shares of its common stock.

The investors have agreed to purchase the shares of common stock at a price of $6.57 per share, resulting in gross proceeds to Achillion, before deducting estimated offering expenses, of about $41.8 million.

The sale and issuance of the shares is expected to close on or about September 4.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT