Achillion Pharmaceuticals Announces Closing of Public Offering of Common Stock
February 18 2015 - 4:30PM
Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN)
announced today the closing of its previously announced public
offering of common stock. Achillion sold 13,800,000 shares of its
common stock in the offering at a price to the public of $10.25 per
share, including the exercise in full by the underwriters of their
option to purchase an additional 1,800,000 shares of common stock
at the public offering price. Achillion received net proceeds of
approximately $132.7 million, after deducting underwriting
discounts and commissions and estimated offering expenses.
Leerink Partners LLC and Deutsche Bank Securities Inc. acted as
joint book-running managers, Wells Fargo Securities, LLC acted as
lead manager, and JMP Securities LLC acted as co-manager for the
offering.
The offering was made by Achillion pursuant to a shelf
registration statement previously filed with and declared effective
by the Securities and Exchange Commission ("SEC"). A prospectus
supplement relating to and describing the terms of the offering has
been filed with the SEC and is available on the SEC's web site at
http://www.sec.gov. Copies of the prospectus supplement and the
accompanying prospectus relating to this offering can be obtained
from Leerink Partners LLC, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA, 02110, or by phone at
1-800-808-7525, ext. 6142, or by email at Syndicate@leerink.com or
from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60
Wall Street, New York, NY 10005-2836, or by phone at
1-800-503-4611, or by email at prospectus.CPDG@db.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor will 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 such
state or other jurisdiction.
About Achillion Pharmaceuticals
Achillion is an innovative pharmaceutical company dedicated to
bringing important new treatments to patients with infectious
disease. Achillion's pipeline is currently focused on small
molecule therapeutics for infectious disease and complement-related
diseases.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other important
factors that could cause actual results to differ materially from
those indicated by such forward-looking statements, including
statements with respect to Achillion's plans to consummate its
proposed public offering. Achillion may use words such as "expect,"
"anticipate," "project," "intend," "plan," "aim," "believe,"
"seek," " estimate," "can," "focus," "will," and "may" and similar
expressions to identify such forward-looking statements. Among the
important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements
are risks relating to, among other things, Achillion's business and
financial condition and the impact of general economic, industry or
political conditions in the United States or internationally. These
and other risks are described in the reports filed by Achillion
with the SEC, including under the caption "Risk Factors" included
in Achillion's current report on Form 8-K filed with the SEC on
February 11, 2015, Achillion's prospectus supplement filed with the
SEC on February 12, 2015, and in other filings that Achillion makes
with the SEC.
In addition, any forward-looking statement in this press release
represents Achillion's views only as of the date of this press
release and should not be relied upon as representing its views as
of any subsequent date. Achillion disclaims any duty to update any
forward-looking statement, except as required by applicable
law.
CONTACT: Company Contact:
Glenn Schulman
Achillion Pharmaceuticals, Inc.
Tel. (203) 624-7000
gschulman@achillion.com
Investors:
Mary Kay Fenton
Achillion Pharmaceuticals, Inc.
Tel. (203) 624-7000
mfenton@achillion.com
Investors:
Tricia Truehart
The Trout Group, LLC
Tel. (646) 378-2953
ttruehart@troutgroup.com
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