PALO ALTO, Calif.--(BUSINESS WIRE)--Affymax, Inc. (Nasdaq:AFFY), today announced the pricing of an underwritten public offering of 8,474,576 shares of its common stock at a price to the public of $5.90 per share. The gross proceeds to Affymax from this offering are expected to be approximately $50.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about March 23, 2011, subject to customary closing conditions. Affymax has also granted the underwriters a 30-day option to purchase up to 1,271,186 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by Affymax.
