Clovis to offer new stock in wake of lawsuit settlement

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) is planning to sell $21,119,326 in new stock to cover the cost of a $25 million settlement with a New York hedge fund.

The Boulder-based cancer therapy company plans to sell 1,482,058 shares at a maximum price of $14.25 per share, according to filings with the U.S. Securities and Exchange Commission. Clovis has 53,004,845 shares outstanding, according to their most recent quarterly report.

Clovis agreed two weeks ago to pay $25 million to settle a lawsuit by Antipoedan Domestic Partners LP, including $4 million in cash and $21 million…