Anthera hopes to sell $10 million of stock through purchase agreement

Agent Lincoln Park will conduct deal over two years, also gets stock

By Devika Patel

Knoxville, Tenn., March 16 – Anthera Pharmaceuticals, Inc. arranged a $10 million two-year common stock purchase agreement with Lincoln Park Capital Fund, LLC on March 12, according to an 8-K and prospectus supplement filed Monday with the Securities and Exchange Commission. The prospectus covers the resale of these shares to the public.

Lincoln Park will receive a 3% commission and 19,188 common shares as an initial commitment, valued at $3.127 per share. It may receive an additional 76,751 shares, valued at $3.127 per share, on a pro rata basis. The company has registered an additional $300,000 of shares for the commission stock.

The company’s shares (Nasdaq: ANTH) closed at $5.44 on March 11, the company noted in the prospectus supplement.

Proceeds will be used for general corporate purposes, to repay debt and possible acquire or invest in complementary businesses, products and technologies.

Anthera, based in Hayward, Calif., is a biopharmaceutical company.

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