Aclaris Announces Pricing of Public Offering of Common Stock
October 17 2018 - 9:44PM
Aclaris Therapeutics, Inc. (Nasdaq:ACRS), a dermatologist-led
biopharmaceutical company focused on identifying, developing, and
commercializing innovative therapies to address significant unmet
patient needs in aesthetic and medical dermatology and immunology,
today announced the pricing of its underwritten public offering of
8,645,000 shares of its common stock at a price to the public of
$10.75 per share. In addition, Aclaris has granted to the
underwriters a 30-day option to purchase up to 1,296,750 additional
shares of common stock at the public offering price, less the
underwriting discount. The gross proceeds from the offering to
Aclaris are expected to be approximately $92.9 million, before
deducting underwriting discounts and commissions and offering
expenses, but excluding any exercise of the underwriters’ option.
The offering is expected to close on or about October 22, 2018,
subject to customary closing conditions.
Leerink Partners and Evercore ISI are acting as joint
book-running managers for the offering. Cantor is acting as lead
manager for the offering. Guggenheim Securities is acting as
co-manager for the offering.
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 Leerink Partners LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, telephone: (800) 808-7525, ext. 6132, or by email at
syndicate@leerink.com; or Evercore Group L.L.C., Attention: Equity
Capital Markets, 55 East 52nd Street, 36th Floor, New York, New
York 10055, by telephone at 888-474-0200, or by email at
ecm.prospectus@evercore.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 dermatologist-led
biopharmaceutical company focused on identifying, developing, and
commercializing innovative therapies to address significant unmet
needs in dermatology, both aesthetic and medical, and immunology.
Aclaris' focus on market segments with no FDA-approved medications
or where treatment gaps exist has resulted in the first
FDA-approved treatment for raised seborrheic keratoses and several
clinical programs to develop medications for the potential
treatment of common warts, alopecia areata, and vitiligo.
Forward-Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Aclaris Therapeutics, Inc., including
statements about Aclaris’ public offering related to expected gross
proceeds and anticipated closing date, 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 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, 2017 and other filings Aclaris makes with
the SEC from time to time. 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.
Contact:
Aclaris Contact Michael Tung, M.D. Senior Vice President
Corporate Strategy/Investor Relations 484-329-2140
mtung@aclaristx.com
Media Contact Sheila KennedyVice President, Corporate
Communications484-321-5559media@aclaristx.com
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