REDWOOD CITY, Calif.,
July 11, 2018 /PRNewswire/
-- AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX) today announced
that it has commenced an underwritten public offering of shares of
its common stock. The Company expects to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of
common stock offered in the public offering. 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. All of the
shares to be sold in the proposed offering will be sold by
AcelRx.
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering. H.C. Wainwright & Co., LLC is
acting as lead manager for the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock and warrants
described above was filed with the Securities and Exchange
Commission (the "SEC") and is effective. The offering will be
made solely by means of a prospectus supplement and accompanying
prospectus. A preliminary prospectus supplement related to
the offering will be filed with the SEC and will be available on
the SEC's website located at www.sec.gov. When available,
copies of the preliminary prospectus supplement and the
accompanying prospectus relating to the proposed offering may be
obtained by contacting Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Avenue, 6th Floor, New York, NY 10022 or by e-mail at
prospectus@cantor.com.
This press release does not constitute an offer to sell, a
solicitation of an offer to sell or a solicitation of an offer to
buy the securities described herein, 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 AcelRx Pharmaceuticals, Inc.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical
company focused on the development and commercialization of
innovative therapies for the treatment of moderate-to-severe acute
pain.
Forward-Looking Information is Subject to Risk and
Uncertainty
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to AcelRx's
expectations regarding the completion of the proposed public
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not
AcelRx will be able to raise capital through the sale of shares of
common stock, the final terms of the proposed offering, market and
other conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of general
economic, industry or political conditions in the United States or internationally. There
can be no assurance that AcelRx will be able to complete the
proposed public offering on the anticipated terms, or at all.
AcelRx will need to raise additional capital to fund its operations
and may be unable to raise capital when needed, which would force
AcelRx to delay, reduce or eliminate its product development
programs or commercialization efforts. You should not place undue
reliance on these forward-looking statements, which apply only as
of the date of this press release. Additional risks and
uncertainties relating to AcelRx and its business can be found
under the heading "Risk Factors" in AcelRx's Quarterly Report on
Form 10-Q for the quarter ended March 31,
2018, filed with the SEC on May 10,
2018, and in the preliminary prospectus supplement related
to the proposed offering to be filed with the SEC on or about the
date hereof. AcelRx expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are
based.
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SOURCE AcelRx Pharmaceuticals, Inc.