New Issue: Acorda Therapeutics gives details of $31.5 million stock sale

By Sheri Kasprzak

New York, Oct. 5 - Acorda Therapeutics, Inc. released the terms of its previously announced $31.5 million private placement.

The company will sell 3,230,769 shares at $9.75 each to Green Way Managed Account Series, Ltd.; Atticus Trading, Ltd.; Atticus Global Advisors, Ltd.; Visium Balanced Fund, LP; Visium Balanced Offshore Fund, Ltd.; Visium Long Bias Fund, LP; Atlas Master Fund, Ltd.; Visium Long Bias Offshore Fund, Ltd.; Pierce Diversified Strategy Master Fund LLC, Enable; Enable Operating Partners LP; Pierce Diversified Strategy Master Fund LLC, Enable; UBS O'Connor LLC FBO O'Connor PIPES Corporate Strategies Master Ltd.; Highbridge International LLC; Iroquois Master Fund Ltd.; LB I Group Inc.; Life Science Capital Master Fund; SF Capital Partners Ltd.; Third Point Offshore Fund Ltd.; Third Point Partners LP; Third Point Partners Qualified LP; Baker Biotech Fund I, LP; Baker Brothers Life Sciences LP; and 14159, LP.

The offering is scheduled to close on Friday.

Banc of America Securities LLC and Lazard Frères & Co. LLC are placement agents.

Proceeds from the deal will be used for sales and marketing, for clinical and preclinical programs and for working capital and general corporate purposes.

Located in Hawthorne, N.Y., Acorda is a biopharmaceutical company focused on treatments for multiple sclerosis, spinal cord injuries and nervous system disorders.

Issuer:	Acorda Therapeutics, Inc.
Issue:	Stock
Amount:	$31.5 million
Shares:	3,230,769
Price:	$9.75
Warrants:	No
Investors:	Green Way Managed Account Series, Ltd.; Atticus Trading, Ltd.; Atticus Global Advisors, Ltd.; Visium Balanced Fund, LP; Visium Balanced Offshore Fund, Ltd.; Visium Long Bias Fund, LP; Atlas Master Fund, Ltd.; Visium Long Bias Offshore Fund, Ltd.; Pierce Diversified Strategy Master Fund LLC, Enable; Enable Operating Partners LP; Pierce Diversified Strategy Master Fund LLC, Enable; UBS O'Connor LLC FBO O'Connor PIPES Corporate Strategies Master Ltd.; Highbridge International LLC; Iroquois Master Fund Ltd.; LB I Group Inc.; Life Science Capital Master Fund; SF Capital Partners Ltd.; Third Point Offshore Fund Ltd.; Third Point Partners LP; Third Point Partners Qualified LP; Baker Biotech Fund I, LP; Baker Brothers Life Sciences LP; and 14159, LP
Agents:	Banc of America Securities LLC and Lazard Frères & Co. LLC
Announcement date:	Oct. 4
Settlement date:	Oct. 6
Stock symbol:	Nasdaq: ACOR
Stock price:	$10.50 at close Oct. 4

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