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

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
RELATED NEWS
Trade ACHN now with 
Follow RTT