scPharmaceuticals Announces Pricing of Public Offering of Common Stock
May 20 2020 - 11:18PM
Business Wire
scPharmaceuticals Inc. (Nasdaq: SCPH), a pharmaceutical company
focused on developing and commercializing products that have the
potential to optimize the delivery of infused therapies, advance
patient care, and reduce healthcare costs, today announced the
pricing of an underwritten public offering of 5,780,347 shares of
its common stock at a public offering price of $8.65 per share,
before deducting underwriting discounts and commissions and other
offering expenses, for gross proceeds of approximately $50.0
million. All shares of common stock to be sold in the offering are
being offered by scPharmaceuticals. The Company has also granted
the underwriters a 30-day option to purchase from the Company up to
an additional 867,052 shares of common stock at the public offering
price, less underwriting discounts and commissions. The offering is
expected to close on May 26, 2020, subject to customary closing
conditions.
Jefferies and SVB Leerink are acting as joint book-running
managers for the offering. BMO Capital Markets is acting as a
bookrunner for the offering. H.C. Wainwright & Co. is acting as
lead manager for the offering.
The shares of common stock were offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-229120), including
a base prospectus, filed by scPharmaceuticals on January 3, 2019
and declared effective by the Securities and Exchange Commission,
or SEC, on February 11, 2019. The offering was made only by means
of a prospectus. A preliminary prospectus supplement and
accompanying prospectus related to the offering was filed with the
SEC on May 20, 2020 and is available at the SEC’s website at
www.sec.gov. A final prospectus supplement related to the offering
will be filed with the SEC. When available, a copy of the final
prospectus supplement and accompanying prospectus can be obtained
from Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by
phone at (877) 821-7388; or by email at
Prospectus_Department@Jefferies.com or SVB Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110; by telephone at (800) 808-7525, ext. 6218; or email:
syndicate@svbleerink.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 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 scPharmaceuticals
scPharmaceuticals is a pharmaceutical company focused on
developing and commercializing products that are designed to reduce
healthcare costs and improve health outcomes. The Company develops,
internally and through strategic partnerships, innovative products
and solutions that aim to expand and advance the outpatient care of
select acute conditions. The Company’s lead programs focus on the
subcutaneous, self-administration of IV-strength treatments in
heart failure and infectious disease. scPharmaceuticals is
headquartered in Burlington, MA.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements relate to our future
expectations, beliefs, plans, strategies, objectives, results,
conditions, financial performance, prospects, or other events. Such
forward-looking statements include, but are not limited to, those
regarding the anticipated closing of the public offering, the
anticipated net proceeds from the public offering and our
expectation with respect to granting a 30-day option to purchase
additional shares of Common Stock. In some cases, forward-looking
statements can be identified by the use of words such as “will,”
“may,” “believe,” “expect,” “look forward,” “on track,” “guidance,”
“anticipate,” “estimate,” “project” and similar expressions, and
the negatives thereof (if applicable).
Our forward-looking statements are based on estimates and
assumptions that are made within the bounds of our knowledge of our
business and operations and that we consider reasonable. However,
our business and operations are subject to significant risks, and,
as a result, there can be no assurance that actual results of our
research, development and commercialization activities and the
results of our business and operations will not differ materially
from the results contemplated in such forward-looking statements.
Factors that could cause actual results to differ from expectations
in our forward-looking statements include the risks and
uncertainties described in the “Risk Factors” section of our Annual
Report on Form 10-K for the year ended December 31, 2019, which we
filed with the Securities and Exchange Commission on March 24,
2020, subsequent filings with the Securities and Exchange
Commission and the preliminary prospectus supplement related to
this offering.
Forward-looking statements speak only as of the date they are
made and are not guarantees of future performance. Accordingly, you
should not place undue reliance on forward-looking statements. We
do not undertake any obligation to publicly update or revise our
forward-looking statements, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200520005925/en/
Katherine Taudvin, scPharmaceuticals Inc. 781-301-6706
ktaudvin@scpharma.com
Christopher F. Brinzey, Westwicke, an ICR Company 339-970-2843
chris.brinzey@westwicke.com
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