Achillion Prices Public Offering Of 12 Mln Common Shares At $10.25 Per Share

(RTTNews) - Achillion Pharmaceuticals, Inc. (ACHN) announced the pricing of an underwritten public offering of 12 million shares of its common stock at a price to the public of $10.25 per share. All shares in the offering will be sold by Achillion.

The net proceeds to Achillion from the sale of the shares, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $115.3 million. The offering is expected to close on February 18.

Achillion has granted the underwriters a 30-day option to purchase up to an additional 1.8 million shares of its common stock on the same terms and conditions.

Leerink Partners LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers, Wells Fargo Securities, LLC is acting as lead manager, and JMP Securities LLC is acting as co-manager for the offering.