Acorda Therapeutics Inc. plans to sell 2.67 million shares of its common stock in a public offering, it said today.

In addition, the Hawthorne-based biotechnology company plans to offer 83,000 shares on behalf of a selling shareholder.

Acorda also plans to use the proceeds from the offering to fund further research into its Fampridine-SR drug for treatment of multiple sclerosis.

Additionally, the company will use the funds to assist with costs associated with bringing the drug to market, should it receive regulatory approval, and for general corporate purposes, it said.

J.P. Morgan Securities Inc. and Deutsche Bank Securities are the offering’s joint underwriters.

Under terms of the proposed offering, underwriters will have a 30-day option to purchase up to an additional 412,500 shares at the public offering price, which has yet to be determined.

Shares of the company were lower in trading this afternoon, down $2.33, or 8.9 percent, to $24 a share.

Starwood Hotels & Resorts Worldwide of White Plains said that its board of directors has authorized the repurchase of an additional $1 billion worth of stock. In the first nine months of the year, Starwood bought back 19.2 million shares at a cost of $1.22 billion.

EpiCept Corp., which develops drugs to treat cancer, expects to raise $7.3 million from the sale of 4.26 million shares of stock at a price of $1.88 a share, the company said today.

Additionally, the Eastview-based company said five-year warrants, to purchase up to about 2.13 million shares of common stock, were priced at $1.88 a share.

EpiCept intends to use the net proceeds for general corporate purposes, it said.

Clickable Enterprises Inc., an Internet-based supplier of home-heating oil, announced today that it has closed on a deal to sell $800,000 in secured convertible notes in a private placement. The transaction closed May 31, the Larchmont-based company said. In addition to the notes, Clickable issued warrants exercisable for 10 million shares of common stock, it said.

Acorda Therapeutics Inc., a biotechnology company based in Hawthorne, announced today that it plans to sell 3.38 million shares of common stock in a public offering. Final terms of the offering will be disclosed in a future filing with the Securities and Exchange Commission, the company said. Acorda intends to use proceeds from the offering to complete a second Phase 3 trial of Fampridine-SR, a treatment for multiple sclerosis, and other business purposes. Banc of America Securities LLC and Deutsche Bank Securities are managing the offering, Acorda said.

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.

PepsiCo Inc., the Purchase-based beverage and snack food giant, said that it expects to sell five-year senior notes to help lower its short-term debt. The net proceeds from the offering, which are undetermined, will be used primarily for general corporate purposes and for the repayment of $500 million of debt bearing interest at 3.2 percent per year, which matured on Tuesday, according to a company filing with the Securities and Exchange Commission. The sale of the notes will be managed by Merrill Lynch & Co., JPMorgan Chase & Co. and UBS Investment Bank.

Pleasantville resident George Cigale’s Tutor.com, a New York-based provider of online tutoring services, announced that Intel Capital and other venture capital firms have made new investments of $13.5 million. The money will help fund expansion of Tutor.com Direct, the company’s online tutoring service for students and families.

“This investment will help Tutor.com build upon our successful institutional business to execute an aggressive marketing campaign and establish strategic partnerships to grow our subscriber base,� Cigale, founder and chief executive officer of Tutor.com, said in a written statement. “There is an untapped market of millions of families with school age children who will benefit from on demand access to the largest professional tutor network available.� The site offers a network of more than 1,300 professional tutors who have delivered more than 2 million one-to-one tutoring sessions.

Privately held Arcadian Networks Inc. announced today that investment-banking firm Goldman Sachs has invested $30 million in the wireless telecommunications company, raising the amount of capital its has secured in the past year to $90 million.

The Valhalla-based wireless telecommunications carrier, which employs 25 workers, is using the funds to build a network to enable wireless communications in rural parts of the United States.

The 1-year-old company is building the “mission-critical� network, which allows organizations to communicate over a 700 megahertz frequency, in 23 states in the South, Midwest and West, as well as the Gulf of Mexico, where it has been granted a license by Federal Communications Commission.

The network allows electric, gas, oil and coal producers to augment or replace current communications systems with broadband and wireless communications systems, among other technologies.

Such a network would have allowed, for example, ConEd to better ascertain the extent of electrical outages in New York City last July when the utility company had to go door-to-door to find out which homes and businesses were affected.

Had a system been in place in Queens, said Arcadian spokesman Joseph Zarb, automated meter readers would have been to communicate with a central office, detailing which locations were affected.

EVCI Career Colleges Holding Corp., an operator of career colleges including Interboro Institute, announced today that it entered into an agreement with ComVest Group Holding LLC and participating EVCI management that will provide EVCI with $10.1 million.

The pact also allows the Yonkers-based company to secure letters of credit of up to $6.7 million, EVCI said, adding that the deal is expected to close May 24.

The agreement with ComVest has “no conditions other than the wiring of funds and the issuance of the securities,� EVCI said. EVCI will restructure its bank debt at the same time as the financing is closed, it said.

EVCI also announced that Robert F. Kennedy Jr., son of late Sen. Robert F. Kennedy and a professor at Pace Law School, has joined the EVCI board of directors to head up a new Educational Oversight Committee.

MVC Capital Inc., a Purchase-based company that invests in small businesses, said it has made a $14 million investment in Genevac U.S. Holdings Inc. to finance the purchase of Genevac Ltd. by Riverlake Partners LLC of Portland, Ore., a private equity firm. Genevac Ltd. makes high-performance solvent evaporation systems for drug discovery, molecular biology and life science research. Riverlake will merge Genevac into SP Industries Inc., a company it owns. MVC Capital is a lender to SP Industries, a maker of laboratory equipment.

MasterCard Inc., the Purchase-based credit card giant, plans to allow the financial institutions that own shares of its Class B common stock to sell them earlier than originally planned.

About 41 percent of the company’s outstanding common stock is Class B. The company’s current certificate of incorporation allows Class B shareholders to convert their shares into Class A shares after May 31, 2010, the fourth anniversary of MasterCard’s initial public offering. Holders of the Class A shares can then sell them anytime. The current rules also give MasterCard first right of refusal on the shares.

MasterCard proposed to its board of directors an amendment that removes its right of first refusal and allows Class B stock to convert to Class A before the 2010 date. The directors OK’d the amendment today and approved the conversion of up to 13.4 million shares of Class B stock into Class A stock.

In addition, the board said it would repurchase up to $500 million Class A shares.

EpiCept Corp. of Tarrytown, which is developing drugs to treat pain and cancer, said today that its shareholders have approved a private placement of stock that netted $10 million as well as a standby equity distribution agreement that could provide up to an additional $15 million.

EpiCept, on Dec. 22, issued 6,883,565 shares of the company’s stock at a price of $1.46 a share, as well as warrants to purchase up to an additional 3,441,786 shares of stock at an exercise price of $1.47 a share.

In the standby equity distribution agreement, the EpiCept will from time to time issue up to 19.9 percent of its stock at a discount to the current price in an agreement with Cornell Capital Partners. As of around noon, shares were trading at $1.79 a share.

Bunge Ltd., the world’s largest oilseed producer, has announced its Bunge N.A. Finance LP unit plans to sell $250 million in 10-year notes due 2017. The fixed-rate 5.9 percent notes are guaranteed by the parent company, White Plains-based Bunge said.

The transaction is expected to close Thursday.

The finance unit intends to use the proceeds from the offering to purchase preferred stock of an unnamed U.S. subsidiary of Bunge Ltd., and to repay existing debt.

J.P. Morgan Securities Inc. and Morgan Stanley & Co. are managing the offering, Bunge said.