Company offers 438,340 common shares at $17.11 each, a 6.81% discount
By Devika Patel
Knoxville, Tenn., May 31 - AVEO Pharmaceuticals, Inc. completed a $7.5 million private placement of stock on May 31, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 438,340 common shares at $17.11 per share. The price per share reflects an 6.81% discount to the May 27 closing share price of $18.36 and is also the average of the daily volume-weighted average prices for the stock for the 30 consecutive trading days ended on May 26.
The company also reported that it granted Centocor Ortho Biotech Inc. worldwide exclusive rights to research, develop, manufacture and commercialize the company's monoclonal antibody antagonists of the Recepteur d'Origine Nantais for therapeutic, diagnostic and prophylactic use in humans.
AVEO is a Cambridge, Mass.-based biopharmaceutical company that is developing cancer therapeutics.
| Issuer: | AVEO Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $7.5 million
|
| Shares: | 438,340
|
| Price: | $17.11
|
| Warrants: | No
|
| Settlement date: | May 31
|
| Stock symbol: | Nasdaq: AVEO
|
| Stock price: | $18.36 at close May 27
|
| Market capitalization: | $658.97 million
|
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