OvaScience to raise $35M in placement

Fertility company OvaScience Inc. (OTCBB:OVSC) plans to raise $35 million through the sale of 3.9 million shares at $9 in a private placement to institutional and accredited investors, including new investors Adage Capital; Deerfield Management; EcoR1 Capital; and Jennison Associates. Leerink is placement agent. The price is a 33% discount to OvaScience's close of $13.50 on Tuesday, before the offer was announced. The company was down $2.45 (18%) to $11.05 on Wednesday. ...