Achillion Pharmaceuticals Prices 15M Share Offering at $8.40/Share

Achillion Pharmaceuticals ACHN announced today the pricing of an underwritten public offering of 15,000,000 shares of its common stock at a price to the public of $8.40 per share. 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 $118.5 million. The offering is expected to close on February 27, 2013, subject to customary closing conditions. Citigroup and Leerink Swann LLC are acting as joint book-running managers, and JMP Securities LLC, Piper Jaffray & Co. and Wells Fargo Securities, LLC are acting as co-managers for the offering. Achillion has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of its common stock. The expected net proceeds to Achillion referenced above do not include any net proceeds that Achillion would receive if the underwriters exercise such option. The offering is being made by Achillion pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A prospectus supplement related to the offering will be filed with the SEC and will be available on the See full press release