Achillion Announces Pricing of Secondary Offering Of Common Stock
November 15 2017 - 10:05PM
Achillion Pharmaceuticals, Inc. (“Achillion”) (NASDAQ:ACHN) today
announced the pricing of an underwritten public offering of
18,367,346 shares of its common stock by existing stockholder
Johnson & Johnson Innovation-JJDC, Inc. (“JJDC”), which shares
constitute all of JJDC’s equity position in Achillion, at a public
offering price of $2.75 per share. The offering is expected to
close on November 20, 2017, subject to the satisfaction of
customary closing conditions. Achillion will not sell any shares or
receive any proceeds from the offering, and the total number of
shares of its outstanding common stock will not change as a result
of the offering.
Goldman Sachs & Co. LLC and Leerink Partners
LLC are acting as the joint book-running managers for the
offering.
The public offering is being made pursuant to a
shelf registration statement, including a prospectus, on Form S-3
(File No. 333-216197) that was filed by Achillion with the
Securities and Exchange Commission (the “SEC”) on February 23, 2017
and declared effective on April 28, 2017, and a prospectus
supplement related to the offering. The final prospectus supplement
relating to and describing the terms of the offering and the
accompanying prospectus will be filed with the SEC and will be
available on the Securities and Exchange Commission’s website at
www.sec.gov. When available, copies of the final prospectus
supplement and the accompanying prospectus relating to the offering
may be obtained by contacting Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, New York 10282,
via telephone: 1-866-471-2526 or email:
prospectusgroup-ny@ny.email.gs.com or Leerink Partners LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, MA 02110, telephone: (800) 808-7525, ext. 6132, email:
syndicate@Leerink.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy any securities, nor
shall there be any sale of these securities, in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction. Offers
will be made only by means of a prospectus supplement and the
accompanying prospectus forming a part of the registration
statement.
About Achillion Pharmaceuticals,
Inc.Achillion is a science-driven, patient-focused company
seeking to leverage its strengths across the continuum from
discovery to commercialization in its goal of providing better
treatments for people with serious diseases.
Forward-Looking StatementsThis
press release contains certain forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of 1995
that are based on current expectations, forecasts and assumptions
that involve risks and uncertainties. Forward-looking statements
include statements regarding Achillion’s expectations, beliefs,
intentions or strategies regarding the future, and can be
identified by forward-looking words such as “anticipate,”
“believe,” “could,” “continue,” “estimate,” “expect,” “intend,”
“may,” “should,” “will” and “would” or similar words.
Forward-looking statements in this press release include, without
limitation, statements regarding the completion of the offering.
Important factors could cause actual results to differ materially
from these forward-looking statements, including market conditions
as well as risks and uncertainties associated with Achillion’s
business, including those risks and uncertainties described in
“Risk Factors” in Achillion's preliminary prospectus supplement and
in “Risk Factors” and elsewhere in Achillion’s annual report on
Form 10-K for the year ended December 31, 2016, and Quarterly
Report for the quarter ended September 30, 2017, each of which has
been filed with the SEC, as well as in other filings that Achillion
periodically makes with the SEC. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and Achillion anticipates that subsequent events and developments
will cause its views to change. While Achillion may elect to update
these forward-looking statements at some point in the future,
Achillion expressly disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Investors & Media:
Glenn Schulman, PharmD, MPH
Executive Director, Investor Relations
Achillion Pharmaceuticals, Inc.
Tel. (203) 752-5510
gschulman@achillion.com
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