Esperion Announces Closing of $225 Million Public Offering
December 07 2021 - 4:05PM
Esperion (NASDAQ: ESPR) (“Esperion” or the “Company”), today
announced the closing of its previously announced underwritten
public offering of 32,142,858 shares of its common stock and
accompanying warrants to purchase an aggregate of up to 32,142,858
shares of common stock for gross proceeds of approximately $225
million, before deducting underwriting discounts and commissions
and other offering expenses. In addition, the Company granted the
underwriter a 30-day option to purchase up to an additional
4,821,428 shares of its common stock and/or additional warrants to
purchase up to 4,821,428 shares of its common stock, which the
underwriter has partially exercised for warrants to purchase
4,821,428 shares of common stock. At closing, Esperion received net
proceeds from the offering of approximately $208.8 million, after
deducting underwriting discounts and commissions and estimated
offering expenses. All of the securities sold in the offering
were offered by Esperion.
Esperion intends to use the net proceeds from
the offering to fund the ongoing commercialization efforts for
NEXLETOL and NEXLIZET, research and clinical development of current
or additional pipeline candidates, and general corporate
purposes.
H.C. Wainwright & Co. acted as sole
book-running manager for the public offering.
The offering was made only by means of a written
prospectus and related prospectus supplement forming part of
Esperion’s shelf registration statement on Form S‑3ASR (File
No. 333-258397) that was previously filed with the Securities and
Exchange Commission (the “SEC”) on August 3, 2021, and which became
effective upon filing. The final prospectus supplement and
accompanying base prospectus relating to, and describing the terms
of, the offering were filed with the SEC and are available on the
SEC’s website at www.sec.gov. Electronic copies of the final
prospectus supplement and the accompanying base prospectus relating
to the offering may also be obtained by contacting H.C. Wainwright
& Co., LLC, at 430 Park Ave., New York, New York 10022, by
telephone at (212) 856-5711, or by email at
placements@hcwco.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities in this
offering, 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 Esperion Therapeutics
Esperion is The Lipid Management Company. Our
goal is lipid management for everybody, that’s why we work hard to
make our medicines easy to get, easy to take and easy to have. We
discover, develop and commercialize innovative medicines and
combinations to lower cholesterol, especially for patients whose
needs aren’t being met by the status quo. Our entrepreneurial team
of industry leaders is inclusive, passionate and resourceful. For
more information, please visit www.esperion.com and follow us on
Twitter at www.twitter.com/EsperionInc.
Forward-Looking Statements
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions of
the federal securities laws, including, without limitation,
statements related to the intended use of proceeds from the public
offering. Any express or implied statements contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements. Forward-looking statements involve
risks and uncertainties that could cause Esperion's actual results
to differ significantly from those projected, including, without
limitation, market and other conditions, the impact of COVID-19 on
our business, clinical activities and results, supply chain,
commercial development and launch plans, and the risks detailed in
Esperion's filings with the Securities and Exchange Commission. All
forward-looking statements included in this press release are
expressly qualified in their entirety by the foregoing cautionary
statements. Any forward-looking statements contained in this press
release speak only as of the date hereof, and Esperion disclaims
any obligation or undertaking to update or revise any
forward-looking statements contained in this press release, other
than to the extent required by law.
Contact:
Corporate Communications Ben Church/Kaitlyn Brosco
bchurch@esperion.com/kbrosco@esperion.com
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