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
Facebook founder and CEO Mark Zuckerberg said he is not running for public office, amid rising speculation that his plans for traveling the U.S. indicated he is gearing up for a future presidential run. Ford Motor Co. (F) announced the replacement of President and CEO Mark Fields with Jim Hackett, who heads its automotive vehicle subsidiary. The company said, Fields, who served Ford for the last 28 years, opted to retire. Hong Kong flag carrier Cathay Pacific Airways Limited announced Monday around 600 job cuts in its head office, reportedly its biggest headcount reduction in almost twenty years. Cathay Pacific will cut around 25 percent of management roles and 18 percent of non-managerial positions at its headquarters.
comments powered by Disqus
Follow RTT