Infinity Pharmaceuticals, Inc. INFI today announced the pricing of
an underwritten public offering of its common stock by existing shareholders
Beacon Company and Rosebay Medical Company L.P., including shares that were
transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company
of Beacon and Rosebay, at a public offering price of $40.00 per share. The
aggregate size of the offering is 10,000,000 shares, with 5,000,000 shares of
common stock offered by Beacon, and 5,000,000 shares of common stock offered
by Rosebay. The selling shareholders have also granted the underwriters an
option for 30 days to purchase from the selling shareholders up to an
additional 1,416,565 shares to cover over-allotments, if any. Assuming closing
of this offering and assuming that the over-allotment option is not exercised,
Beacon, Rosebay and Purdue collectively own an aggregate of 2.96% of
Infinity's outstanding common stock. The offering is expected to close on or
about April 16, 2013, subject to the satisfaction of customary closing
conditions. Infinity 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.
The joint book-running managers for the proposed offering are Morgan Stanley &
Co. LLC and J.P. Morgan Securities LLC.
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