Deal funds research, development activities, including clinical trials
By Devika Patel
Knoxville, Tenn., Feb. 8 - Anacor Pharmaceuticals, Inc. has priced a $21.45 million public offering of stock with a $3.22 million greenshoe, according to a free-writing prospectus filed Wednesday with the Securities and Exchange Commission. Canaccord Genuity Inc. is the underwriter.
The company will sell 3.25 million common shares at $6.60 per share. The price per share reflects an 8.84% discount to the Feb. 7 closing share price of $7.24.
Proceeds will be used for research and development activities, including clinical trials and preclinical activities, to increase working capital and for general corporate purposes.
The pharmaceutical company is based in Palo Alto, Calif.
| Issuer: | Anacor Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $21.45 million
|
| Greenshoe: | $3,217,500
|
| Units: | 3.25 million
|
| Price: | $6.60
|
| Warrants: | No
|
| Underwriter: | Canaccord Genuity Inc.
|
| Pricing date: | Feb. 8
|
| Stock symbol: | Nasdaq: ANAC
|
| Stock price: | $7.24 at close Feb. 7
|
| Market capitalization: | $202.42 million
|
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