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Optimer Pharmaceuticals, AŞ Message Board

  • Disambiguate Disambiguate Jul 22, 2010 8:21 PM Flag

    Another Offering?

    I just received an email alert from OPTR indicating they had just filed a Form 424B5 / Prospectus Pursuant To Rule 424. They are offering 585,762 shares.

    I thought they just completed an offering in March of over 5 million shares.

    Can anyone offer some insight into the thinking of the company. Should shareholders expect that OPTR will do offerings every few months for the foreseeable future?

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    • From OPTR's 8-K:

      On July 22, 2010, Optimer Pharmaceuticals, Inc. entered into a Compensation Agreement with AFOS, LLC. Pursuant to the terms of the Compensation Agreement, Optimer issued 585,762 shares of common stock (the “Shares”) to AFOS as consideration for the engagement of an affiliate of AFOS to provide certain services to Optimer, and the affiliate’s obligation to provide such services. The Shares are subject to various lock-up periods during which AFOS may not transfer such Shares, except pursuant to certain exceptions. A copy of the Compensation Agreement is attached as Exhibit 99.1 hereto.

      The Shares were issued pursuant to a prospectus dated December 24, 2009, and a prospectus supplement dated July 22, 2010, which are related to Optimer’s effective shelf registration statement on Form S-3 (File No. 333-163606). A copy of the opinion of Cooley LLP relating to the legality of the issuance of the Shares is attached as Exhibit 5.1 hereto.

      ---I can't seem to find any info regarding AFOS, LLC. Anyone know what kind of services AFOS and/or its affiliates will be providing to OPTR?