NEW HAVEN, Conn., Nov. 8 /PRNewswire-FirstCall/ -- Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) today 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 co-manager.
Copies of the final prospectus relating to the offering may be obtained from: Cowen and Company, LLC, Prospectus Department at ADP, 1155 Long Island Avenue, Edgewood, NY 11717, (631) 254-7106.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Achillion is a biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for infectious diseases. Achillion is currently developing treatments for HIV infection, chronic hepatitis C infection and serious hospital-based bacterial infections.
Mary Kay Fenton
Achillion Pharmaceuticals, Inc.
Tel. (203) 624-7000
Source: Achillion Pharmaceuticals, Inc.