AVI Biopharma Adds $30M
AVI Biopharma (NASDAQ: AVII), the Bothell, WA-based developer of RNA-based therapies, said today it has raised $30 million through a stock offering. The company sold 20 million new shares at $1.50 apiece. The price represented a 19 percent discount to yesterday’s stock market closing price of $1.86. The underwriters of the deal—Lazard Capital Markets, Piper Jaffray, and ThinkEquity—were granted a 30-day option to buy more shares, which could raise an additional $4.5 million, AVI Biopharma said.