Anacor Pharmaceuticals, Inc. Prices $24 Million Public Offering of Common Stock
10/18/2012 9:28:18 AM
PALO ALTO, Calif.--(BUSINESS WIRE)--Anacor Pharmaceuticals (NASDAQ:ANAC) today announced that it has priced an underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $6.00 per share for gross proceeds of $24 million. Anacor has also granted the underwriter a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover overallotments, if any. Anacor expects to use the net proceeds from the sale of the shares for research and development activities, working capital and general corporate purposes. All of the shares in the offering will be sold by Anacor. The offering is expected to close on October 23, 2012, subject to satisfaction of customary closing conditions.