Avant Immunotherapeutics files $40 million stock, preferreds shelf

By Angela McDaniels

Seattle, May 21 - Avant Immunotherapeutics, Inc. registered to sell up to $40 million of securities in an S-3 filing with the Securities and Exchange Commission on Monday.

Covered by the shelf are common stock, warrants to purchase common stock and rights to purchase shares of series C-1 junior participating cumulative preferred stock, which are attached to and trade with the company's common stock.

Proceeds will be used to fund research and clinical development activities, potential future acquisitions of companies or technologies and capital expenditures and for working capital and other general corporate purposes.

The Needham, Mass.-based biopharmaceutical company has already paid registration fees of $1,736 for 6.035 million shares of common stock and 2.25 million warrants that were previously registered, went unsold and are being carried forward.

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