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Alexion To Yield $209m from Stock Sale
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Business New Haven
11/13/2000
By: BNH
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NEW HAVEN - Alexion Pharmaceuticals Inc. (NYSE: ALXN), a developer of therapeutic products, announced a deal to sell 2.3 million shares of its common stock to US Bancorp Piper Jaffray Inc. The stock sale will result in about $209 million in proceeds for Alexion and was part of a shelf registration filed by the company earlier this month.
Alexion President and Chief Executive Officer Leonard Bell said proceeds of the stock sale will provide the company with greater capital flexibility in order to pursue strategic growth objectives. Alexion products help to treat diverse diseases, including cardiovascular and autoimmune disorders, inflammation and cancer.
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