8-KMaterial AgreementsExhibits & Filings

VERTEX PHARMACEUTICALS INC / MA 8-K Report, Material Agreement (Sep 19, 2008)

Filed September 19, 2008For Securities:VRTX

Summary

Vertex Pharmaceuticals Inc. (VRTX) announced on September 18, 2008, that it has entered into a material agreement for the sale of its common stock. Specifically, the company has executed an underwriting agreement with Goldman, Sachs & Co. for the offering of 7,500,000 shares of common stock at a public offering price of $25.50 per share. This transaction is expected to provide Vertex with additional capital, though the exact use of proceeds is not detailed in this filing. The agreement also includes an option granted to the underwriter, Goldman, Sachs & Co., to purchase up to an additional 1,125,000 shares of common stock within a 30-day period. This overallotment option allows the underwriter to purchase more shares if demand exceeds the initial offering, potentially increasing the total capital raised for Vertex and the total number of shares outstanding. The offering is being conducted through a prospectus supplement and an accompanying prospectus filed with the SEC.

Key Highlights

  • 1Vertex Pharmaceuticals entered into an underwriting agreement with Goldman, Sachs & Co. on September 18, 2008.
  • 2The company is offering 7,500,000 shares of its common stock to the public.
  • 3The public offering price for each share is set at $25.50.
  • 4Vertex has granted an option to the underwriter to purchase an additional 1,125,000 shares.
  • 5This option is exercisable for 30 days following the agreement.
  • 6The offering is being conducted via a prospectus supplement and accompanying prospectus filed with the SEC.

Frequently Asked Questions

This 8-K filing announces Vertex Pharmaceuticals' entry into a material agreement, specifically an underwriting agreement for a public offering of its common stock.

Vertex Pharmaceuticals is offering 7,500,000 shares of common stock at a public offering price of $25.50 per share.

Yes, Vertex has granted Goldman, Sachs & Co., the underwriter, an option to purchase up to an additional 1,125,000 shares of common stock within 30 days. This is often referred to as an overallotment option.

Based on the initial offering of 7,500,000 shares at $25.50 per share, Vertex could raise approximately $191.25 million. If the overallotment option is fully exercised, the total raised could be approximately $219.94 million.