Alder Announces $250 Million Committed Equity Financing
ALDER BIOPHARMACEUTICALS INC (ALDR)
Last alder biopharmaceuticals inc earnings: 8/6 04:07 pm
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US:NASDAQ Investor Relations:
investor.alderbio.com/node/5806
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Source: GlobeNewswire
BOTHELL, Wash., Jan. 08, 2018 (GLOBE NEWSWIRE) -- Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR), a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, today announced that it has entered into a definitive preferred stock purchase agreement with certain institutional and other accredited investors affiliated with or managed by Redmile Group LLC. Under the terms of the agreement, the investors have committed to purchase up to $250 million of non-voting Class A Preferred Stock during the three-year term of the agreement, with an initial purchase of $100 million of Class A Preferred Stock. Purchases are subject to the satisfaction of customary closing conditions. Each share of Class A Preferred Stock is convertible into ten shares of Alder’s common stock upon certain conditions. Alder intends to use the net proceeds from the financing to fund payments under Alder’s European patent settlement and global license agreement with Teva
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