SOUTH SAN FRANCISCO, Calif.,
Sept. 12, 2019 /PRNewswire/ --
Satsuma Pharmaceuticals, Inc. ("Satsuma" or the "Company") (Nasdaq:
STSA), a clinical-stage biopharmaceutical company developing STS101
(dihydroergotamine (DHE) nasal powder) for the acute treatment of
migraine, today announced the pricing of its initial public
offering of 5,500,000 shares of common stock at a public offering
price of $15.00 per share, for gross
proceeds of $82.5 million, before the
underwriting discounts and commissions. All of the shares of common
stock are being offered by Satsuma. The Company has also granted
the underwriters a 30-day option to purchase from the Company an
additional 825,000 shares of common stock at the initial public
offering price, less the underwriting discounts and commissions.
Satsuma's common stock has been approved for listing on The Nasdaq
Global Market and is expected to begin trading under the ticker
symbol "STSA" on September 13, 2019.
The offering is expected to close on September 17, 2019, subject to customary closing
conditions.
Credit Suisse, SVB Leerink and Evercore ISI acted as joint
book-running managers for the offering.
Registration statements relating to the shares being sold in
this offering were declared effective by the Securities and
Exchange Commission on September 12,
2019. The offering of these securities is being made only by
means of a prospectus, copies of which may be obtained from: Credit
Suisse Securities (USA) LLC,
Attention: Prospectus Department, Eleven Madison Avenue,
New York, NY, 10010, by telephone
at 1-800-221-1037 or by e-mail: usa.prospectus@credit-suisse.com;
SVB Leerink LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA
02110, by telephone at 1-800-808-7525, ext. 6132, or by email at
syndicate@svbleerink.com; or Evercore Group L.L.C., Attention:
Equity Capital Markets, 55 East 52nd Street, 36th Floor,
New York, NY 10055, by telephone
at 1-888-474-0200 or by e-mail: ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these 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.
Contact:
Investors
Tom O'Neil, Chief Financial
Officer
Satsuma Pharmaceuticals, Inc.
tom@satsumarx.com
Media
Tom O'Neil, Chief Financial
Officer
Satsuma Pharmaceuticals, Inc.
tom@satsumarx.com
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SOURCE Satsuma Pharmaceuticals, Inc.