Series A preferreds sold at $100.00 apiece to Cubist Pharmaceuticals
By Devika Patel
Knoxville, Tenn., Sept. 16 - Optimer Pharmaceuticals, Inc. settled a $25 million private placement of its series A convertible preferred stock with Cubist Pharmaceuticals, Inc. on Sept. 16, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 250,000 preferreds at $100.00 apiece.
Each preferred converts to common stock based on the average of the volume-weighted average price per share of the stock over the ten consecutive trading day period preceding conversion.
Jersey City-based Optimer is a biopharmaceutical company specializing on the discovery, development and commercialization of innovative treatments.
Issuer: | Optimer Pharmaceuticals, Inc.
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Issue: | Series A convertible preferred stock
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Amount: | $25 million
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Preferrreds: | 250,000
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Price: | $100.00
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Warrants: | No
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Investor: | Cubist Pharmaceuticals, Inc.
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Settlement date: | Sept. 16
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Stock symbol: | Nasdaq: OPTR
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Stock price: | $12.67 at close Sept. 13
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Market capitalization: | $621.51 million
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