Aquestive Therapeutics Announces Proposed Public Offering of Common Stock
December 10 2019 - 4:01PM
Aquestive Therapeutics, Inc. (Nasdaq: AQST) (“Aquestive”), a
specialty pharmaceutical company focused on developing and
commercializing differentiated products based on its proprietary
PharmFilm® technology to meet patients’ unmet needs and solve
therapeutic problems, today announced that it intends to offer and
sell $35 million of shares of its common stock in an underwritten
public offering. In connection with this offering, Aquestive
expects to grant the underwriters a 30-day option to purchase up to
an additional $5.25 million of shares of common stock at the public
offering price, less the underwriting discount. The offering is
subject to market 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. All of the shares in the
offering are being offered by Aquestive.
BMO Capital Markets is acting as sole
book-running manager for this offering.
Aquestive intends to use the net proceeds of
this offering for the continuation of the commercial launch of
Sympazan®, preparations to support the expected launch of its
product candidate Libervant™ in late 2020 (if approved by the US
Food and Drug Administration (the “FDA”)), continued development of
AQST-108 and other product candidates, working capital and general
corporate purposes.
The securities described above are being offered
by the Company pursuant to a shelf registration statement
previously filed with the Securities and Exchange Commission (the
“SEC”) and declared effective by the SEC on September 17, 2019 only
by means of a prospectus supplement and accompanying prospectus
included in the registration statement. A preliminary
prospectus supplement and the accompanying prospectus relating to
the securities being offered will be filed with the SEC and will be
available on the SEC’s website at http://www.sec.gov. When
available, copies of the preliminary prospectus supplement and the
accompanying prospectus relating to the securities being offered
may also be obtained from BMO Capital Markets Corp., 3 Times
Square, New York, NY 10036, Attention: Equity Syndicate Department,
Telephone: (800) 414-3627, Email: bmoprospectus@bmo.com.
This announcement is neither an offer to
sell, nor a solicitation of an offer to buy, any of these
securities and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such offer, solicitation or
sale is unlawful prior to registration or qualification of these
securities under the securities laws of any such state or
jurisdiction.
About Aquestive
TherapeuticsAquestive Therapeutics is a specialty
pharmaceutical company that applies innovative technology to solve
therapeutic problems and improve medicines for patients.
Aquestive is advancing a late-stage proprietary product
pipeline to treat CNS conditions and provide alternatives to
invasively-administered standard of care therapies. The Company
also collaborates with pharmaceutical companies to bring new
molecules to market using proprietary, best-in-class technologies,
like PharmFilm®, and has proven capabilities for drug development
and commercialization.
PharmFilm®, Sympazan® and the Aquestive
logo are registered trademarks of Aquestive Therapeutics, Inc.
Aquestive has received conditional acceptance of the use of
the trade name Libervant, which is subject to final FDA review and
acceptance.
Forward-Looking StatementThis
press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as “believe,” "anticipate," "plan," "expect,"
"estimate," "intend," "may," "will," or the negative of those
terms, and similar expressions, are intended to identify
forward-looking statements. These forward-looking statements may
include, but are not limited to, statements regarding the
completion, timing, size and use of proceeds of the offering,
statements regarding plans and objectives and anticipated timing
for regulatory approval of Libervant and other product candidates;
and other statements that are not historical facts.
These forward-looking statements are based on
our current expectations and beliefs and are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
Such risks and uncertainties include, but are not limited to, risks
associated with uncertainties related to market conditions and the
satisfaction of closing conditions related to the offering and
other risks and uncertainties affecting the Company including those
described in the "Risk Factors" section and in other sections
included in the preliminary prospectus supplement to be filed with
the SEC, including the documents incorporated by reference therein,
the Company's Annual Report on Form 10‑K filed on March 14,
2019 and its quarterly reports on Form 10-Q filed with the SEC.
Given these uncertainties, you should not place undue reliance on
these forward-looking statements, which speak only as of the date
made. All subsequent forward-looking statements attributable to us
or any person acting on our behalf are expressly qualified in their
entirety by this cautionary statement. The Company assumes no
obligation to update forward-looking statements or outlook or
guidance after the date of this press release whether as a result
of new information, future events or otherwise, except as may be
required by applicable law.
Investor inquiries:Stephanie Carrington
stephanie.carrington@icrinc.com 646-277-1282
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