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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Dec. 11, 7:54 AM

Slide #3. Revance Therapeutics, Inc. Secondary Offering

Company: Revance Therapeutics, Inc. (NASDAQ:RVNC)
Date announced: 12/5/2017
Shares Offered: 5,338,709
Date of Pricing: 12/7/2017
Price Per Share: $31.00
Secondary Offering Details: Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology company developing botulinum toxin products for use in treating aesthetic and therapeutic conditions ("Revance" or the "Company"), today announced a proposed underwritten public offering in which it will issue and sell approximately $175 million of shares of its common stock. In addition, certain stockholders of the Company (the "Selling Stockholders") are offering 600,000 shares of the Company's common stock for sale to the public. Revance expects that the underwriters will be granted a 30-day option to purchase from the Company and the Selling Stockholders up to an additional 15% of the shares of its common stock offered by the Company and the Selling Stockholders. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholders. The Company intends to use the net proceeds received from its offering of common stock for general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 12/7- Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology company developing botulinum toxin products for use in treating aesthetic and therapeutic conditions ("Revance" or the "Company"), today announced the pricing of an underwritten public offering of 5,338,709 shares of its common stock at a price to the public of $31.00 per share. In the offering, the Company will issue and sell 4,838,709 shares and certain stockholders of the Company (the "Selling Stockholders") will sell 500,000 shares. Revance and the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an aggregate of additional 800,806 shares from the Company and the Selling Stockholders. The gross proceeds to the Company from the offering, excluding any exercise by the underwriters of their 30-day option to purchase additional shares, are expected to be approximately $150 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholders. The offering is expected to close on or about December 11, 2017, subject to customary closing conditions. The Company intends to use the net proceeds received from its offering of common stock for general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments.

Revance Therapeutics. is a clinical-stage biotechnology company focused on the development, manufacturing, and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Co.'s proprietary peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002, or RT002 Injectable), which is developed for aesthetic indications, such as glabellar (frown) lines and therapeutic indications, such as cervical dystonia and plantar fasciitis; and DaxibotulinumtoxinA Topical Gel (RT001 or RT001 Topical), which is developed for the therapeutic and aesthetic indications.

RVNC SEC Filing Email Alerts Service

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Company Name:  Revance Therapeutics Inc
Website:  www.revance.com
Sector:  Drugs & Pharmaceuticals
Number of ETFs Holding RVNC:  17
Total Market Value Held by ETFs:  $52.98M
Total Market Capitalization:  $1.04B
% of Market Cap. Held by ETFs:  5.09%
 

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December 11, 2017    7:54 AM Eastern
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Strong Buy (4.00 out of 4)
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