The news release "Trevi Therapeutics Announces Pricing of $[50
Million] Public Offering", issued 22-Sept-2022 by Trevi Therapeutics, Inc. over PR
Newswire was erroneously and prematurely issued by PR Newswire. The
complete, corrected release follows:
Trevi Therapeutics Announces Pricing of $55 Million Public Offering
NEW
HAVEN, Conn., Sept. 23,
2022 /PRNewswire/ -- Trevi Therapeutics,
Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical
company developing an investigational therapy, Haduvio™ (oral
nalbuphine ER) for the treatment of chronic cough in adults with
idiopathic pulmonary fibrosis (IPF) and the treatment of prurigo
nodularis (PN), today announced the pricing of its underwritten
public offering of 14,252,670 shares of its common stock at a
public offering price of $1.93 per
share, and, to certain investors in lieu of common stock,
pre-funded warrants to purchase 14,247,330 shares of common stock
at a price of $1.929 per pre-funded
warrant, for total proceeds of approximately $55 million, before deducting underwriting
discounts and commissions and expenses payable by Trevi. The
purchase price per share of each pre-funded warrant represents the
per share public offering price for the common stock, minus the
$0.001 per share exercise price of
such pre-funded warrant. All of the shares and pre-funded warrants
in the offering are being sold by Trevi. In addition, Trevi has
granted the underwriters a 30-day option to purchase up to
4,275,000 additional shares of its common stock at the public
offering price, less underwriting discounts and commissions. The
offering is expected to close on September
27, 2022, subject to satisfaction of customary closing
conditions.
SVB Securities, Stifel and Oppenheimer & Co. are acting as
joint bookrunning managers for the offering. Needham & Company
is acting as lead manager for the offering and Aegis Capital Corp.
is acting as co-manager for the offering.
The shares and pre-funded warrants are being offered by Trevi
pursuant to a shelf registration statement that was filed with the
Securities and Exchange Commission ("SEC") on June 26, 2020 and declared effective by the SEC
on July 2, 2020. This offering is
being made only by means of a prospectus and prospectus supplement
that form a part of the registration statement. A preliminary
prospectus supplement relating to and describing the terms of the
offering has been filed with the SEC and may be obtained for free
by visiting the SEC's website at www.sec.gov. A final prospectus
supplement relating to the offering will be filed with the SEC.
When available, copies of the final prospectus supplement and the
accompanying prospectus may also be obtained from SVB Securities
LLC, Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109 by email at
syndicate@svbsecurities.com or by phone at (800) 808-7525,
ext. 6105; Stifel, Nicolaus & Company, Incorporated, Attention:
Syndicate, One Montgomery Street,
Suite 3700, San Francisco, CA
94014, by telephone at 415-364-2720 or by email at
syndprospectus@stifel.com; or Oppenheimer & Co. Inc., 85 Broad
Street, 26th Floor, New York, NY
10004, Attn: Syndicate Prospectus Department, telephone: (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 Trevi Therapeutics,
Inc.
Trevi Therapeutics, Inc. is a clinical-stage
biopharmaceutical company focused on the development and
commercialization of the investigational therapy Haduvio for the
treatment of chronic cough in adults with idiopathic pulmonary
fibrosis and prurigo nodularis. These conditions share a common
pathophysiology that is mediated through opioid receptors in the
central and peripheral nervous systems.
Founded in 2011, Trevi is headquartered in New Haven,
CT.
Forward-Looking
Statements
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to risks and uncertainties and
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such statements
include, but are not limited to, statements about the anticipated
closing of the public offering, and other statements containing the
words "believes," "anticipates," "plans," "expects," and similar
expressions. Risks that contribute to the uncertain nature of the
forward-looking statements include: uncertainties related to market
conditions and whether the conditions for the closing of the public
offering will be satisfied as well as other risks and uncertainties
set forth in the "Risk Factors" section of the preliminary
prospectus supplement filed with the SEC on September 22, 2022, in Trevi's quarterly report
on Form 10-Q for the quarter ended June 30,
2022 filed with the SEC, and in any subsequent filings with
the SEC. All forward-looking statements contained in this
press release speak only as of the date on which they were made.
Trevi undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made except as required by law.
Investor Contact
Katie
McManus
Trevi Therapeutics, Inc.
203-304-2499
k.mcmanus@trevitherapeutics.com
Media Contact
Rosalia
Scampoli
914-815-1465
rscampoli@marketcompr.com
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SOURCE Trevi Therapeutics, Inc.