By Angela McDaniels
Tacoma, Wash., June 4 - Anadys Pharmaceuticals, Inc. is offering $17.5 million of units to institutional investors for $2.0937 per unit, according to a 424B5 filing with the Securities and Exchange Commission.
Cowen and Co., LLC is the agent.
Each unit consists of one share of common stock and a warrant to purchase 0.35 of a share. The five-year warrants have an exercise price of $2.75 per share and will become exercisable six months after settlement.
The proceeds are expected to be used for general corporate purposes.
The agent will receive a fee of 6%.
The settlement date is expected to be Tuesday.
Anadys is a San Diego-based biopharmaceutical company developing novel medicines for the treatment of hepatitis C.
| Issuer: | Anadys Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $17,499,562
|
| Units: | 8,358,000
|
| Price: | $2.09375
|
| Warrants: | One warrant for 0.35 of a share per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.75 per share
|
| Agent: | Cowen and Co., LLC
|
| Pricing date: | June 3
|
| Settlement date: | June 9
|
| Stock symbol: | Nasdaq: ANDS
|
| Stock price: | $1.98 at close June 2
|
| Market capitalization: | $54.98 million
|
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