Revance to price initial public stock sale between $14.00 and $16.00

Deal funds research, development, clinical trials, RT001 development

By Devika Patel

Knoxville, Tenn., Jan. 27 - Revance Therapeutics, Inc. plans to sell 5 million common shares in its initial public offering with a greenshoe of 750,000 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Dec. 31.

The shares will be sold at a price expected to fall between $14.00 and $16.00 per share.

Cowen and Co. and Piper Jaffray are the joint bookrunners. BMO Capital Markets is the co-manager.

Proceeds will be used for research and development, for clinical trials, to make payments on a term loan agreement with Hercules Technology Growth Capital, Inc., to make payments under a settlement agreement with Medicis Pharmaceutical Corp., for development of RT001 and for working capital and other general corporate purposes.

The clinical stage specialty biopharmaceutical company is based in Newark, Calif. It expects its shares will trade on the Nasdaq under the symbol "RVNC."

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