Arvinas, Inc. announced a private placement of 3.5 million shares at a price of $100 per share for gross proceeds of $350 million on July 22, 2021. The shares are issued at a 30% premium to the 30-day volume weighted average price. The transaction will include participation from new investor Pfizer Inc. for approximately 7% stake in the company.

The transaction is contingent on completion of review under antitrust laws, including the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 in the U.S., and other customary closing conditions.