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Acorda shareholders offered stock

May
30

Acorda Therapeutics Inc., a biotechnology company in Hawthorne, said the public will have the opportunity to buy up to $150 million worth of stock and debt. Acorda, which is developing a drug to help people with multiple sclerosis walk, said in a filing with the U.S. Securities and Exchange Commission the offering may include up to $1.37 million shares of common stock. That would be 5.7 percent of the company’s outstanding shares. The company’s shares are listed on the Nasdaq and were trading at $20.35, down 15 cents, just after the stock market opened this morning. The filing lists the selling shareholders as Saints Capital, Cross Atlantic Partners and Vector Fund Management.

This entry was posted on Wednesday, May 30th, 2007 at 6:07 pm by Allan Drury. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Raising cash

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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