Revance Announces Pricing of $100.0 Million Public Offering of Common Stock
March 04 2024 - 9:25AM
Business Wire
Revance Therapeutics, Inc. (Nasdaq: RVNC) (“Revance” or the
“Company”) today announced the pricing of an underwritten public
offering of 16,000,000 shares of its common stock. The shares of
common stock are being offered at a public offering price of $6.25
per share. The gross proceeds from the public offering are expected
to be $100.0 million, before deducting underwriting discounts and
commissions and other offering expenses. The public offering is
expected to close on or about March 6, 2024, subject to the
satisfaction of customary closing conditions. The Company intends
to use the net proceeds from the offering to advance the commercial
growth of its aesthetics portfolio, including DAXXIFY® and the RHA®
Collection of dermal fillers, support the launch of DAXXIFY® into
the therapeutics market, as well as for working capital, research
and development and general corporate purposes.
Barclays is acting as the sole book-running manager for the
proposed offering.
The shares of common stock described above are being offered by
Revance pursuant to an automatic shelf registration statement on
Form S-3 (File No. 333-275548) previously filed with the Securities
and Exchange Commission (the “SEC”) on November 14, 2023. A
preliminary prospectus supplement and accompanying prospectus
relating to the public offering have been filed with the SEC and
are available on the SEC’s website at www.sec.gov. A final
prospectus supplement and accompanying prospectus will be filed
with the SEC. When available, copies of the final prospectus
supplement and accompanying prospectus may also be obtained by
contacting Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by
telephone at (888) 603-5847, or by email at
barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Revance
Revance is a biotechnology company focused on developing and
commercializing innovative aesthetic and therapeutic offerings.
Revance’s portfolio includes DAXXIFY® (DaxibotulinumtoxinA-lanm)
for injection and the RHA® Collection of dermal fillers in the U.S.
Revance has also partnered with Viatris Inc. to develop a
biosimilar to onabotulinumtoxinA for injection and Shanghai Fosun
Pharmaceutical to commercialize DAXXIFY® in China.
“Revance”, the Revance logo, and DAXXIFY® are registered
trademarks of Revance Therapeutics, Inc. Resilient Hyaluronic Acid®
and RHA® are trademarks of TEOXANE SA.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
forward-looking statements, including, without limitation,
statements about: the completion and timing of the offering; any
exercise by the underwriter of its option to purchase additional
shares; and statements regarding the intended use of the net
proceeds from the offering are based on management’s current
assumptions and expectations and involve risks, uncertainties and
other important factors. Actual results or developments may differ
materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to the
satisfaction of customary closing conditions related to the
proposed public offering and the impact of general economic,
industry or political conditions in the United States or
internationally. There can be no assurance that Revance will be
able to complete the proposed public offering on the anticipated
terms, or at all. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this
press release. Additional risks and uncertainties relating to the
proposed offering, Revance and its business can be found under the
heading "Risk Factors" in documents Revance files from time to time
with the SEC, including its annual report on Form 10-K for the year
ended December 31, 2023, filed with the SEC on February 28, 2024,
the preliminary prospectus supplement and the final prospectus
supplement, when available, each relating to this offering, and its
future periodic reports to be filed with the SEC. Revance expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in its expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statements are based, except as required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240304308299/en/
INVESTORS Revance Therapeutics, Inc.: Jessica Serra,
510-279-6886 Jessica.serra@revance.com or Gilmartin Group, LLC.:
Laurence Watts, 619-916-7620 laurence@gilmartinir.com
MEDIA Revance Therapeutics, Inc.: Cathryn Castaldo, 615-245-7567
cathryn.castaldo@revance.com
Revance Therapeutics (NASDAQ:RVNC)
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