ARTICLE | Financial News

Anacor raises $60M in IPO

November 24, 2010 1:10 AM UTC

Anacor Pharmaceuticals Inc. (NASDAQ:ANAC) raised $60 million through the sale of 12 million shares at $5 in an IPO underwritten by Citigroup; Deutsche Bank; Cowen; and Wedbush. The price values Anacor at $133.1 million. Anacor previously proposed to sell 4.7 million shares at $16-$18. At the previous $17 mid-point and 4.7 million shares, Anacor would have raised $80 million and have been valued at $294.3 million. Anacor also raised an additional $10 million through the sale of 2 million shares at $5 in a private placement to Venrock. ...