Summary
Alnylam Pharmaceuticals, Inc. (ALNY) filed an 8-K on February 15, 2012, to report the material definitive agreement for a public offering of its common stock. The company entered into an underwriting agreement with J.P. Morgan Securities LLC for the sale of 7,500,000 shares at an offering price of $10.75 per share. This offering is expected to generate approximately $75.5 million in net proceeds for Alnylam after accounting for underwriting discounts and expenses.
Key Highlights
- 1Alnylam Pharmaceuticals entered into an underwriting agreement on February 14, 2012.
- 2The agreement pertains to an underwritten public offering of 7,500,000 shares of common stock.
- 3The offering price per share is set at $10.75.
- 4The company expects to receive net proceeds of approximately $75.5 million from the offering.
- 5Underwriters have an option to purchase up to an additional 1,125,000 shares to cover overallotments.
- 6The offering is being conducted under a shelf registration statement filed earlier and is expected to close on February 21, 2012.
Frequently Asked Questions
This 8-K filing is primarily to disclose Alnylam Pharmaceuticals' entry into a material definitive agreement regarding a public offering of its common stock. It provides details about the number of shares being offered, the price, and the expected proceeds to the company.
Alnylam Pharmaceuticals is expected to raise approximately $75.5 million in net proceeds from this underwritten public offering, after deducting underwriting discounts and estimated expenses.
Yes, the underwriters have been granted an option, exercisable for 30 days, to purchase up to an additional 1,125,000 shares of common stock at the same offering price to cover any overallotments.
The closing of the offering is anticipated to take place on February 21, 2012, subject to the fulfillment of customary closing conditions.