Clovis pays off notes, raises $40M+ in ATM offering

BOULDER — In an effort to clean up its balance sheet, cancer-drug manufacturer Clovis Oncology Inc. (NYSE: CLVS) has paid off $64.4 million in maturing convertible senior notes due in 2021 and raised more than $40 million in new financing through at-the-market offerings.

At-the-market offerings, or ATMS, occur when a company incrementally sells off newly issued or company-owned shares through a broker at market prices. 

During the third quarter of 2021, Clovis sold about 9.4 million shares in ATM offering, generating $41.7 million in net proceeds. That’s on top of $72.5 million in net proceeds the company raked in during the second…