CVTX: Sells $10 Million in Common Stock to Acqua Wellington
According to an 8-K filed today, CV Therapeutics Inc (NasdaqNM: CVTX) on
January 28, 2004, sold an aggregate of 684,097 shares of common stock to Acqua
Wellington under a Common Stock Purchase Agreement at an average price of $14.62
per share. The total purchase price for all of these shares was $10,000,000. The
Company will receive net proceeds from the sale of these shares of approximately
$9,970,000 after deducting estimated offering expenses of approximately $30,000,
including the placement agent fee of $20,000 paid to Alder Creek Capital,
L.L.C., Member NASD/SIPC, in connection with this offering.
The offering price of these shares was established with reference to the
volume weighted average prices of common stock on the Nasdaq National Market for
the period beginning January 20, 2004 and ending January 26, 2004, net of a
discount of 5.3% per share. The Company intends to use net proceeds from the
sale of the shares for general corporate purposes. |
