Esperion Announces Pricing of $85.1 Million Public Offering of Common Stock
January 18 2024 - 9:15PM
Esperion Therapeutics, Inc. (“Esperion”, “we”, “us” or “our”)
(Nasdaq: ESPR) announced today the pricing of its previously
announced underwritten public offering of 56,700,000 shares of its
common stock at a public offering price of $1.50 per share, before
underwriting discounts and commissions. All of the shares of common
stock are being offered by Esperion. In addition, Esperion granted
the underwriters a 30-day option to purchase up to an additional
8,505,000 shares of its common stock at the public offering price,
less underwriting discounts and commissions. The gross proceeds
from the offering, before deducting underwriting discounts and
commissions and other offering expenses payable by Esperion, are
expected to be approximately $85.1 million, excluding any exercise
of the underwriters’ option to purchase additional shares. The
offering is expected to close on January 23, 2024, subject to
customary closing conditions.
Jefferies LLC is acting as sole book-running manager for the
offering.
Esperion intends to use the net proceeds from the offering of
common stock, together with its existing cash and cash equivalents,
to fund the ongoing commercialization efforts for NEXLETOL
(bempedoic acid) and NEXLIZET (bempedoic acid and ezetimibe),
research and clinical development of current or additional pipeline
candidates, working capital, capital expenditures, and general
corporate purposes.
A registration statement relating to the offering of common
stock has been filed with the Securities and Exchange Commission
(“SEC”) and was declared effective on April 26, 2022. The offering
of common stock is being made only by means of a prospectus
supplement and accompanying prospectus. Copies of the prospectus
supplement and the accompanying prospectus may be obtained, when
available, on the SEC’s website at http://www.sec.gov or by
contacting Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, New York, New York 10022, by
telephone at 877-821-7388, or by email at
prospectus_department@jefferies.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 offer or sale of these securities in any state or
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 jurisdiction.
Esperion TherapeuticsAt Esperion, we discover,
develop, and commercialize innovative medicines to help improve
outcomes for patients with or at risk for cardiovascular and
cardiometabolic diseases. The status quo is not meeting the health
needs of millions of people with high cholesterol – that is why our
team of passionate industry leaders is breaking through the
barriers that prevent patients from reaching their goals. Providers
are moving toward reducing LDL-cholesterol levels as low as
possible, as soon as possible; we provide the next steps to help
get patients there. Because when it comes to high cholesterol,
getting to goal is not optional. It is our life’s work. For more
information, visit esperion.com and esperionscience.com and follow
us on Twitter at twitter.com/EsperionInc.
Special Note Regarding Forward-Looking
StatementsThis 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 terms, timing and completion of the
proposed public offering, the satisfaction of customary closing
conditions related to the proposed public offering and the intended
use of proceeds from the proposed public offering. These statements
involve risks, uncertainties and other factors that may cause
actual results, levels of activity, performance, or achievements to
be materially different from the information expressed or implied
by these forward-looking statements. Although we believe that we
have a reasonable basis for each forward-looking statement
contained in this press release, we caution you that these
statements are based on a combination of facts and factors
currently known by us and our projections of the future, about
which we cannot be certain. We cannot assure you that the
forward-looking statements in this press release will prove to be
accurate. Furthermore, if the forward-looking statements prove to
be inaccurate, the inaccuracy may be material. Actual performance
and results may differ materially from those projected or suggested
in the forward-looking statements due to various risks and
uncertainties, including, among others: fluctuations in Esperion’s
stock price, changes in market conditions, the completion of the
public offering on the anticipated terms or at all, and the risks
detailed in Esperion’s filings with the SEC, including in our most
recent Annual Report on Form 10-K and in subsequent filings with
the SEC. 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.
Esperion Contact Information: Investors: Alexis
Callahaninvestorrelations@esperion.com (406) 539-1762
Media: Tiffany Aldrich corporateteam@esperion.com (616)
443-8438
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