TherapeuticsMD Announces Pricing of Its Underwritten Public Offering of 26 Million Shares of Common Stock
October 24 2019 - 7:46PM
Business Wire
TherapeuticsMD, Inc. (NASDAQ:TXMD) today announced the pricing
of its underwritten public offering of 26,000,000 shares of its
common stock at a price to the public of $2.75 per share.
TherapeuticsMD has also granted to the underwriters of the offering
a 30-day option to purchase up to an additional 3,900,000 shares of
common stock at the public offering price, less the underwriting
discount. The gross proceeds to TherapeuticsMD from the offering
are expected to be $71.5 million, before deducting underwriting
discounts, commissions and other offering expenses payable by
TherapeuticsMD, assuming no exercise of the underwriters’ option to
purchase additional shares of common stock. All of the shares in
the offering are to be sold by TherapeuticsMD. The offering is
expected to close on October 29, 2019, subject to the satisfaction
of customary closing conditions.
J.P. Morgan is acting as sole bookrunning manager for the
offering. Stifel is acting as lead manager for the offering.
TherapeuticsMD intends to use the proceeds of the offering for
commercialization of its three FDA-approved products, IMVEXXY®
(estradiol vaginal inserts) for the treatment of moderate-to-severe
dyspareunia (vaginal pain associated with sexual activity), a
symptom of vulvar and vaginal atrophy due to menopause, BIJUVA®
(estradiol and progesterone) capsules, a hormone therapy
combination of bio-identical 17ß-estradiol and bio-identical
progesterone in a single, oral softgel capsule, for the treatment
of moderate-to-severe vasomotor symptoms due to menopause in women
with a uterus, and ANNOVERA® (segesterone acetate/ethinyl estradiol
vaginal system), the first and only patient-controlled,
procedure-free, reversible prescription contraceptive that can
prevent unintended pregnancy for up to a full year, including to
maximize ANNOVERA’s consumer-focused commercialization strategy,
and for general corporate purposes.
TherapeuticsMD has filed a shelf registration statement on Form
S-3 with the Securities and Exchange Commission (the “SEC”) with
respect to the offering that became effective upon filing. A
preliminary prospectus supplement and accompanying prospectus
related to the offering were filed with the SEC on October 23,
2019. A final prospectus supplement and accompanying prospectus
relating to the offering will be filed with the SEC. Before buying
any shares of TherapeuticsMD’s common stock in the offering, you
should carefully read the preliminary prospectus supplement and the
accompanying prospectus, together with the information incorporated
by reference therein. These documents contain important information
that you should consider when making your investment decision.
TherapeuticsMD’s SEC filings are available to the public from the
SEC’s website at www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained, when available, by contacting J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at
1-866-803-9204, or by email at prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any 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 TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare
company, focused on developing and commercializing novel products
exclusively for women. Our products are designed to address the
unique changes and challenges women experience through the various
stages of their lives with a therapeutic focus in family planning,
reproductive health, and menopause management. The company is
committed to advancing the health of women and championing
awareness of their healthcare issues.
Forward Looking Statements
This press release by TherapeuticsMD, Inc. may contain
forward-looking statements. Forward-looking statements may include,
but are not limited to, statements relating to TherapeuticsMD’s
objectives, plans and strategies as well as statements, other than
historical facts, that address activities, events or developments
that TherapeuticsMD intends, expects, projects, believes or
anticipates will or may occur in the future. These statements are
often characterized by terminology such as “believes,” “hopes,”
“may,” “anticipates,” “should,” “intends,” “plans,” “will,”
“expects,” “estimates,” “projects,” “positioned,” “strategy” and
similar expressions and are based on assumptions and assessments
made in light of management’s experience and perception of
historical trends, current conditions, expected future developments
and other factors believed to be appropriate. Forward-looking
statements in this press release are made as of the date of this
press release, and the company undertakes no duty to update or
revise any such statements, whether as a result of new information,
future events or otherwise. Forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of the company’s control,
that may cause actual results to differ materially, including the
risks and uncertainties associated with market conditions, the
satisfaction of customary closing conditions related to the
offering, risks and uncertainties associated with TherapeuticsMD’s
business and finances in general and other risks described in the
sections titled “Risk Factors” in TherapeuticsMD’s filings with the
SEC, including its most recent Annual Report on Form 10-K, the
preliminary prospectus supplement with respect to the offering and
other filings with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191024006086/en/
Investor Contact Nichol Ochsner Vice President Investor
Relations 561-961-1900 Ext. 2088 nochsner@TherapeuticsMD.com
TherapeuticsMD (NASDAQ:TXMD)
Historical Stock Chart
From Mar 2024 to Apr 2024
TherapeuticsMD (NASDAQ:TXMD)
Historical Stock Chart
From Apr 2023 to Apr 2024