Aquestive Therapeutics Announces Pricing of Public Offering of Common Stock
December 12 2019 - 8:00PM
Aquestive Therapeutics, Inc. (Nasdaq:AQST) (“Aquestive”), a
specialty pharmaceutical company focused on developing and
commercializing differentiated products to meet patients’ unmet
needs and solve therapeutic problems, today announced the pricing
of its public offering of 7,000,000 shares of common stock at a
public offering price of $5.00 per share for aggregate gross
proceeds of $35.0 million. All of the shares in the offering are
being offered by Aquestive. In addition, Aquestive granted the
underwriters a 30-day option to purchase up to 1,050,000 additional
shares of its common stock at the public offering price, less the
underwriting discount. The offering is expected to close on or
about on December 17, 2019, subject to the satisfaction of
customary closing conditions.
BMO Capital Markets is acting as lead
book-running manager for this offering and RBC Capital Markets is
also acting as a book-running manager. Wedbush PacGrow is acting as
lead manager for this offering and Brookline Capital Markets, a
division of Arcadia Securities, LLC, and H.C. Wainwright & Co.
are acting as co-managers 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
U.S. 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. The
offering of the shares of common stock is being made only by means
of a prospectus supplement and accompanying prospectus included in
the registration statement. A final 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
final 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; or RBC Capital Markets, LLC, 200
Vesey Street, 8th Floor, New York, NY 10281, Attention: Equity
Syndicate Department, by telephone at (877) 822-4089, or by E-mail
at equityprospectus@rbccm.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 and use of proceeds of the offering, statements
regarding plans, 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 filed with the SEC on December 10, 2019,
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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