ANN ARBOR, Mich. - Esperion (NASDAQ:ESPR) Therapeutics, Inc. (NASDAQ:ESPR), a pharmaceutical company focused on developing treatments for cardiovascular and cardiometabolic diseases, has announced the pricing of its underwritten public offering. The company is offering 56.7 million shares of common stock at a price of $1.50 each. The offering is expected to generate gross proceeds of approximately $85.1 million, before underwriting discounts and commissions. This figure does not account for any additional funds from the underwriters' 30-day option to buy up to 8.505 million more shares.
The transaction is scheduled to conclude on January 23, 2024, with the condition that standard closing requirements are met. Jefferies LLC is the sole book-running manager for the offering.
Esperion's plan is to allocate the net proceeds from this stock offering to further the commercialization of its FDA-approved drugs NEXLETOL and NEXLIZET, both designed to treat high cholesterol. Additional uses for the funds include research and development of new or existing pipeline candidates, as well as general corporate purposes such as working capital and capital expenditures.
The company's commitment to addressing the unmet medical needs of those with high cholesterol is evident in its product offerings and ongoing efforts to lower LDL-cholesterol levels in patients.
The offering is made pursuant to an effective registration statement on file with the Securities and Exchange Commission (SEC) since April 26, 2022. Interested parties can obtain copies of the prospectus supplement and accompanying prospectus from the SEC's website or directly from Jefferies LLC.
This press release does not serve as an offer to sell or a solicitation of an offer to buy these securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful.
The information contained in this article is based on a press release statement from Esperion Therapeutics.
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