Jan 30 2010
Pharmasset, Inc. (Nasdaq: VRUS) announced today the underwriter of its recent stock offering has exercised its option to purchase an additional 230,400 shares of common stock. The net proceeds to Pharmasset, Inc., after deducting the underwriting discount, from the sale of these additional shares are expected to be approximately $4.1 million. This brings the total expected proceeds of the offering, after deducting the underwriting discount and estimated offering expenses, to $32.7 million. Leerink Swann LLC served as sole book-running manager for the offering.
Pharmasset granted the option in connection with its previously announced offering of 1,600,000 shares of common stock at an offering price of $18.75 per share, which is expected to close on February 2, 2010, subject to customary closing conditions.