Infinity Pharmaceuticals, Inc. (INFI) announced that it has closed an underwritten public offering of its common stock, at a price of $40.00 per share, by existing shareholders Beacon Company and Rosebay Medical Company L.P., including shares that were transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company of Beacon and Rosebay.
The company stated that the total number of shares of common stock sold was 11.4 million, composed of 10.0 million shares of common stock initially sold and an additional 1.4 million shares of common stock sold pursuant to the exercise of the underwriters' over-allotment option.
Also 5.7 million shares of common stock were sold by Beacon and 5.7 million shares of common stock were sold by Rosebay, the company noted.
Infinity said immediately following the closing, Beacon, Rosebay and Purdue will not hold any shares of the company.
Infinity stated that it did not sell any shares or receive any proceeds from the offering, and the total number of shares of its outstanding common stock has not changed as a result of the offering.
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