Anacor Pharmaceuticals, Inc. Prices $20 Million Public Offering of Common Stock
Published: Apr 26, 2013
PALO ALTO, Calif.--(BUSINESS WIRE)--Anacor Pharmaceuticals (NASDAQ:ANAC) announced today that it has priced an underwritten public offering of 3,129,890 shares of its common stock at a price to the public of $6.39 per share for gross proceeds of $20.0 million. Anacor has also granted the underwriters a 30-day option to purchase up to 15 percent of the shares of common stock offered in the public offering to cover over-allotments. 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 May 1, 2013, subject to satisfaction of customary closing conditions.