Aclaris Announces Pricing of Public Offering of Common Stock
November 17 2016 - 7:03PM
Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a clinical-stage
specialty pharmaceutical company, today announced the pricing of
its underwritten public offering of 4,000,000 shares of its common
stock at a price to the public of $22.75 per share. The gross
proceeds from the offering to Aclaris are expected to be $91.0
million. In addition, Aclaris has granted to the underwriters a
30-day option to purchase up to 600,000 additional shares of common
stock at the public offering price, less the underwriting discount.
The net proceeds from the offering to Aclaris are expected to be
$85.2 million, after deducting underwriting discounts and
commissions and estimated offering expenses, but excluding any
exercise of the underwriters’ option. The offering is expected to
close on or about November 23, 2016, subject to customary closing
conditions.
Jefferies LLC, Leerink Partners LLC and Guggenheim
Securities LLC are acting as joint book-running managers for the
offering. William Blair & Company, L.L.C. is acting as
lead manager for the offering and JMP Securities LLC is acting as
co-manager.
Aclaris intends to use the net proceeds from the
offering to fund the submissions for regulatory approval of its
drug candidate A-101 Topical Solution (A-101) for the treatment of
seborrheic keratosis (SK), to develop a commercial sales force to
market A-101 for the treatment of SK, if approved, to fund the
continued research and development of A-101 for the treatment of
common warts and its JAK inhibitor drug candidates ATI-50001 and
ATI-50002 for the treatment of alopecia areata, to fund preclinical
development and formulation of a JAK inhibitor drug candidate for
the treatment of androgenetic alopecia and vitiligo, and for
working capital and general corporate purposes.
A shelf registration statement relating to this
offering was filed with the Securities and Exchange Commission
(SEC) on November 2, 2016 and declared effective by the SEC on
November 14, 2016. The offering is being made only by means
of a written prospectus and prospectus supplement that form a part
of the registration statement. A preliminary prospectus
supplement and accompanying prospectus relating to the offering has
been filed with the SEC and is available on the SEC’s website at
www.sec.gov. A final prospectus supplement and accompanying
prospectus will be filed with the SEC. When available, copies
of the final prospectus supplement and the accompanying prospectus
may also be obtained by contacting Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by email at Prospectus_Department@Jefferies.com,
or by phone at (877) 547-6340; Leerink Partners LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, telephone: (800) 808-7525, ext. 6142, email:
syndicate@Leerink.com; or Guggenheim Securities, LLC, Attention:
Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New
York, NY 10017, by telephone at 212-518-9658, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the securities being
offered, nor shall there be any sale of the securities being
offered 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 Aclaris Therapeutics,
Inc.
Aclaris Therapeutics, Inc. is a clinical-stage
specialty pharmaceutical company focused on identifying,
developing, and commercializing innovative and differentiated drugs
to address significant unmet needs in
dermatology. Aclaris is based in Malvern,
Pennsylvania.
Forward-Looking Statements
Any statements in this press release about future
expectations, plans and prospects for Aclaris Therapeutics, Inc.,
including statements about Aclaris’ anticipated public offering,
anticipated use of proceeds and other statements containing the
words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“may,” “plan,” “predict,” “project,” “target,” “potential,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements 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,
uncertainties inherent in the initiation of future clinical trials
and such other factors as are set forth in the risk factors
detailed in Aclaris’ Annual Report on Form 10-K for the year ended
December 31, 2015, Aclaris’ Quarterly Report on Form 10-Q for the
quarter ended September 30, 2016 and Aclaris’ other filings with
the SEC under the heading “Risk Factors.” In addition, the
forward-looking statements included in this press release represent
Aclaris’ views as of the date hereof. Aclaris anticipates that
subsequent events and developments will cause Aclaris’ views to
change. However, while Aclaris may elect to update these
forward-looking statements at some point in the future, Aclaris
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Aclaris’ views as of any date subsequent to the date
hereof.
Aclaris Contact
Michael Tung, M.D.
Vice President / Investor Relations
484-329-2140
mtung@aclaristx.com
Media Contact
Mariann Caprino
TogoRun
917-242-1087
M.Caprino@togorun.com
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