CV Therapeutics Selling 378,089 Shares Under Pact >CVTX
Dow Jones News Service ~ January 28, 2003 ~ 4:46 pm EST
WASHINGTON (Dow Jones)--CV Therapeutics Inc. (CVTX) is selling 378,089 common shares to Acqua Wellington North American Equities Fund Ltd. for net proceeds of $6.94 million, according to a filing Tuesday with the Securities and Exchange Commission.
CV Therapeutics is selling the shares at an average price of $18.39 a share under an existing stock purchase agreement with Acqua Wellington, the filing said.
CV Therapeutics shares closed Tuesday at $18.46, up 62 cents, or 3.5%.
CV Therapeutics said it plans to use the proceeds for general corporate purposes, which could include funding research and development, product manufacturing, clinical trials, and preparing a new drug application.
The company, which plans to issue the stock to the buyer Wednesday, had 27.2 million common shares outstanding through Monday.
The company reported selling 676,722 shares to Acqua Wellington in November for $15 million, or about $22.17 a share.
CV Therapeutics, Palo Alto, Calif., develops small molecule drugs for cardiovascular diseases.
-By Christopher Scinta, Dow Jones Newswires; 202-628-7699; chris.scinta@ dowjones.com |
