New York, Aug. 4 - Anadys Pharmaceuticals, Inc. priced an upsized $62 million follow-on offering of common stock at $12.40 per share.
The company sold 5 million shares, up from the planned 4 million.
The $12.40 price compared to the closing stock level of $12.96. When Anadys first filed the sale with the Securities and Exchange Commission it estimated the price at $11.99 per share.
Credit Suisse First Boston LLC and SG Cowen & Co., LLC are joint bookrunners for the off-the-shelf offering. Piper Jaffray and Needham & Co., LLC are co-managers.
The underwriters have a greenshoe for 750,000 shares, increased from 600,000.
Proceeds will be used for clinical and preclinical development of product candidates, for discovery research for new product candidates and for general corporate purposes, including working capital.
San Diego-based Anadys is focused on small molecule medicines for the treatment of hepatitis C virus, hepatitis B virus and other serious infections with clinical development programs for its ANA975 to treat hepatitis C and B, and ANA380 to treat hepatitis B.
| Issuer: | Anadys Pharmaceuticals, Inc.
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| Issue: | Stock (follow-on offering)
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| Amount: | $62 million
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| Shares: | 5 million
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| Greenshoe: | 750,000
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| Price: | $12.40
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| Pricing date: | Aug. 4, after close
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| Settlement: | Aug. 10
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| Bookrunners: | Credit Suisse First Boston LLC, SG Cowen & Co., LLC
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| Distribution: | Off shelf
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| Stock price: | $12.96 at close Aug. 4
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