By Devika Patel
Knoxville, Tenn., Nov. 29 - Regeneron Pharmaceuticals, Inc. will take in $312 million in a private placement of shares, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 12 million common shares at $26.00 apiece to affiliates of sanofi-aventis, a French company. Following this deal, sanofi-aventis will own a 19% stake in the company, up from its current stake of 4%.
Based in Tarrytown, N.Y., Regeneron Pharmaceuticals is a biopharmaceutical company.
| Issuer: | Regeneron Pharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $312 million
|
| Shares: | 12 million
|
| Price: | $26.00
|
| Warrants: | No
|
| Investor: | sanofi-aventis
|
| Pricing date: | Nov. 28
|
| Stock symbol: | Nasdaq: REGN
|
| Stock price: | $17.15 at close Nov. 28
|
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