May 14 2010
Pharmasset, Inc. (Nasdaq: VRUS) announced today the pricing of an underwritten public offering of 3,200,000 shares of its common stock at an offering price of $29.00 per share. Pharmasset expects to receive net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $87.9 million. In addition, Pharmasset has granted the underwriters a 30-day option to purchase up to an additional 480,000 shares of common stock at the offering price. The offering is expected to close on May 19, 2010, subject to customary closing conditions. Citi is serving as sole book-running manager for the offering. J.P. Morgan, Baird and Canaccord Genuity are serving as co-managers.
The shares described above are being offered by Pharmasset pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission.