Beyond Infinity: over-allotted offering closes at $88m
This article was originally published in Scrip
Infinity Pharmaceuticals has closed its previously announced underwritten registered public offering of common stock. The total number of shares sold was 6.1 million shares, composed of 5.3 million shares of common stock initially offered and an additional 795,000 shares sold through the over-allotment option, all at $14.50 per share. The gross proceeds were approximately $88.4 million. The company was originally slated to raise $76.9 million when it priced the offering two days after announcing a 20% workforce reduction at its Massachusetts headquarters (scripintelligence.com, 10 August & 9 August 2012).
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