Anadys Pharmaceuticals to raise $12.5 million through registered direct offering

May 26 2010

Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS) announced today that it has entered into definitive agreements with certain institutional investors to raise approximately $12.5 million in gross proceeds in a "registered direct" offering through the sale of a total of 5,813,954 shares of its common stock at an offering price of $2.15 per share. Anadys estimates that net proceeds from the offering will be approximately $11.3 million, after deducting placement agents' fees and estimated offering expenses. The closing of the transaction is scheduled to occur on June 1, 2010, subject to the satisfaction of customary closing conditions. All of the shares of common stock were offered pursuant to an effective shelf registration statement. Proceeds from the transaction will be used for general corporate purposes.

Lazard Capital Markets LLC served as the lead placement agent and Piper Jaffray & Co. served as the co-placement agent for the offering.  

A shelf registration statement relating to the shares of common stock issued in the offering has been filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). A prospectus supplement relating to the offering will be filed with the SEC. Copies of the prospectus supplement and accompanying prospectus, when available, may be obtained at the SEC's website at http://www.sec.gov or from the offices of Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New York, NY, 10020.