Finance

Achillion Pharmaceuticals closes underwriters' over-allotment option

Published in Pharma Investments, Ventures and Law Weekly, December 10th, 2006

Achillion Pharmaceuticals, Inc. (ACHN) announced that it closed the sale of an additional 675,000 shares of its common stock in connection with the exercise of the over-allotment option granted to the underwriters of its recent initial public offering of 4,500,000 shares of common stock.

Upon closing of the purchase of the over-allotment shares, a total of 5,175,000 shares of common stock have been sold, resulting in gross proceeds of $59.5 million, before commissions and expenses, and net proceeds before expenses of $55.3 million. Cowen and Company, LLC acted as the sole book-running manager, CIBC World Markets Corp. acted as co-lead manager and JMP Securities LLC was...

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Source: Pharma Investments, Ventures and Law Weekly (2006-12-10)

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