Deal funds research, development, clinical trials, RT001 development
By Devika Patel
Knoxville, Tenn., Feb. 6 - Revance Therapeutics, Inc. said it priced its $96 million initial public offering of stock with a $14.4 million greenshoe. The deal was announced Dec. 31.
The company will sell 6 million common shares at $16.00 apiece.
Cowen and Co. and Piper Jaffray are the joint bookrunners.
Settlement is expected Feb. 11.
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 an agreement with Medicis Pharmaceutical Corp., for development of RT001, for working capital and for 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."
| Issuer: | Revance Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $96 million
|
| Greenshoe: | $14.4 million
|
| Shares: | 6 million
|
| Price: | $16.00
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co. and Piper Jaffray
|
| Co-manager: | BMO Capital Markets
|
| Announcement date: | Dec. 31
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 11
|
| Stock symbol: | Nasdaq: RVNC
|
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