Investor affiliate joins company’s board of directors
By Marisa Wong
Morgantown, W.Va., Aug. 31 – Medicines Co. sold $30 million of common stock to Eshelman Ventures, LLC on Aug. 25, according to an 8-K filing with the Securities and Exchange Commission.
The investor purchased 944,537 shares of common stock.
The price per share was $31.76, which is a 6.8% premium to the company’s $29.73 closing share price on Aug. 24.
Eshelman Ventures is an entity owned by Fred Eshelman. Following the transaction, Eshelman joined Medicines’ board of directors as non-executive chairman.
Based in Parsippany, N.J., Medicines develops products that improve specialized care.
| Issuer: | Medicines Co.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Shares: | 944,537
|
| Price: | $31.76
|
| Warrants: | No
|
| Investor: | Eshelman Ventures, LLC
|
| Settlement date: | Aug. 25
|
| Stock symbol: | Nasdaq: MDCO
|
| Stock price: | $33.64 at close Aug. 28
|
| Market capitalization: | $2.74 billion
|
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