Tuesday, September 9, 2014

Aerie Pharmaceuticals Raises $125M

Newport Beach-based Aerie Pharmaceuticals said today that it has raised $125M in a convertible note financing. The publicly held pharmaceuticals firm--which is developing treatments for glaucoma--said the funding came from a current shareholder, Deerfield Management Company LP. Aerie said the notes accrue interest at $1.75% per annum, and also provide conversion at a 30 percent premium over its closing stock price as of yesterday. The company said the financing will help provide "adequate financial resources" for its programs, and also for potential licensing and acquisitions.

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