PALO ALTO, Calif.--(BUSINESS WIRE)--Anacor Pharmaceuticals, Inc. (NASDAQ:ANAC) announced today that it intends to offer, subject to market and other considerations, $70,000,000 aggregate principal amount of Convertible Senior Notes due 2021 (the “Convertible Notes”) in a private placement under the Securities Act of 1933, as amended (the “Securities Act”). Anacor also intends to grant to the initial purchasers of the Convertible Notes a 30-day option to purchase up to an additional $7,000,000 aggregate principal amount of the Convertible Notes, solely to cover over-allotments, if any. In addition, certain funds affiliated with Venrock Associates (the “Venrock Funds”), one of Anacor’s affiliates, have indicated an interest in purchasing $12.0 million aggregate principal amount of Convertible Senior Notes due 2021 (the “Venrock Notes”) in a concurrent private placement under the Securities Act. The Venrock Notes are expected to be sold at the same price, and constitute part of the same series, as the Convertible Notes. The Venrock Funds’ indication of interest is not a binding agreement or commitment to purchase the Venrock Notes.
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