Alnylam Pharma Up 8% After Pricing Public Offering
Shares of Alnylam Pharma (NASDAQ: ALNY) are up nearly 8% after the company priced its public offering yesterday.
The company today announced the pricing of an underwritten registered public offering of 7,500,000 shares of its common stock at a public offering price of $10.75 per share. All of the shares are being sold by Alnylam. The offering is expected to close on February 21, 2012, subject to customary closing conditions.
J.P. Morgan Securities LLC is acting as sole book-running manager for the proposed offering. Leerink Swann LLC, Needham & Company, LLC, JMP Securities LLC, Rodman & Renshaw, LLC, MLV & Co. LLC and Chardan Capital Markets, LLC are acting as co-managers for the offering. Alnylam is granting the underwriters a 30-day option to purchase up to 1,125,000 shares to cover overallotments, if any.
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