Anacor to sell $25 million via stock equity distribution agreement

Deal terms also allow company to sell stock to Wedbush Securities

By Susanna Moon

Chicago, Jan. 18 - Anacor Pharmaceuticals, Inc. plans to $25 million of stock through an equity distribution agreement with Wedbush Securities Inc., according to a 424B5 filing with the Securities and Exchange Commission.

The company will pay Wedbush a fee of 2% of the sales prices of the shares sold under the equity distribution agreement.

Under the terms of the agreement, the company may also sell shares to Wedbush, as principal for its own account, at a price to be agreed upon at the time of sale.

The company's stock (Nasdaq: ANAC) closed at $4.74 per share on Jan. 16.

The pharmaceutical company is based in Palo Alto, Calif.

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