Agile Therapeutics Announces Pricing of $45 Million Underwritten Public Offering of Common Stock
February 21 2020 - 8:35AM
Agile Therapeutics, Inc. (Nasdaq: AGRX), a women’s healthcare
company, today announced the pricing of its underwritten public
offering of 15 million shares of its common stock at a public
offering price of $3.00 per share. The gross proceeds from the
offering, before deducting underwriting discounts and commissions
and estimated offering expenses payable by Agile Therapeutics, are
expected to be approximately $45 million. In addition, Agile
Therapeutics has granted the underwriters a 30-day option to
purchase up to 2.25 million additional shares of common stock at
the public offering price, less the underwriting discounts and
commissions. All shares in the offering will be sold by Agile
Therapeutics.
The joint book-running managers for the offering
are RBC Capital Markets, William Blair and Oppenheimer &
Co. In addition, H.C. Wainwright & Co., Maxim Group LLC,
and Janney Montgomery Scott are acting as co-managers.
The offering is expected to close on or about
February 25, 2020, subject to customary closing conditions.
The shares of common stock described above are
being offered by Agile Therapeutics pursuant to its shelf
registration statement on Form S-3 previously filed and declared
effective by the Securities and Exchange Commission. The
offering is being made only by means of a prospectus supplement and
the accompanying prospectus, copies of which may be obtained from
RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200
Vesey Street, New York, NY 10281, by telephone at 877-822-4089 or
by email at equityprospectus@rbccm.com; William Blair &
Company, L.L.C., Attention: Prospectus Department, 150 North
Riverside Plaza, Chicago, IL 60606; Telephone: (800) 621-0687 or by
email at prospectus@williamblair.com; and Oppenheimer & Co.
Inc., Attention: Syndicate Prospectus Department, 85 Broad St.,
26th Floor, New York, NY 10004, by telephone at (212) 667-8055 or
by email at EquityProspectus@opco.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
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Agile Therapeutics,
Inc.
Agile Therapeutics is a women's healthcare
company dedicated to fulfilling the unmet health needs of today’s
women. Our product candidates are designed to provide women
with contraceptive options that offer freedom from taking a daily
pill, without committing to a longer-acting method. Our
initial product, Twirla®, (levonorgestrel and ethinyl estradiol)
transdermal system is a non-daily prescription contraceptive.
Twirla is based on our proprietary transdermal patch technology,
called Skinfusion®, which is designed to allow drug delivery
through the skin. For more information, please visit the company
website at www.agiletherapeutics.com. The Company may occasionally
disseminate material, nonpublic information on the Company’s
website.
Follow Agile on Linked In and Twitter:
@AgileTher.
Forward-Looking Statement
Certain information contained in this press
release includes "forward-looking statements" within the meaning of
The Private Securities Litigation Reform Act of 1995, including
statements related to our public offering and potential market
opportunity for our product candidates. We may, in some cases, use
terms such as "predicts," "believes," "potential," "continue,"
"anticipates," "estimates," "expects," "plans," "intends," "may,"
"could," “might," "will," "should" or other words that convey
uncertainty of the future events or outcomes to identify these
forward-looking statements. Our forward-looking statements are
based on current beliefs and expectations of our management team
that involve risks, potential changes in circumstances, assumptions
and uncertainties. Any or all of the forward-looking statements may
turn out to be wrong, or be affected by inaccurate assumptions we
might make or by known or unknown risks and uncertainties as a
result of various important factors, including the uncertainties
related to market conditions and the completion of the public
offering on the anticipated terms or at all and such other
factors. For a more detailed description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to our business in general, please refer to our prospectus
supplement filed with the Securities and Exchange Commission (SEC)
on February 20, 2020 under the heading “Risk Factors” and those
documents incorporated by reference therein, which includes our
Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q.
You are cautioned not to place undue reliance on these
forward-looking statements, which are made only as of the date of
this press release. We undertake no obligation to publicly update
such forward-looking statements to reflect subsequent events or
circumstances.
Source: |
Agile
Therapeutics |
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Contact: |
Investor Relations |
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609-683-1880 |
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