Tarsus Announces Pricing of Upsized $75.6 Million Underwritten Public Offering of Common Stock
May 03 2022 - 6:58AM
Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) (the “Company” or
“Tarsus”), whose mission is to focus on unmet needs and apply
proven science and new technology to revolutionize treatment for
patients, starting with eye care, today announced the pricing of an
upsized underwritten public offering of 5,600,000 shares of common
stock at a public offering price of $13.50 per share, which
represents $75.6 million of common stock, before underwriting
discounts and commissions. In addition, Tarsus has granted the
underwriters a 30-day option to purchase up to 840,000 additional
shares of common stock at the public offering price, less
underwriting discounts and commissions. All of the shares in the
offering are to be sold by Tarsus. The offering is expected to
close on or about May 5, 2022, subject to customary closing
conditions.
BofA Securities, Jefferies, Barclays and Raymond
James are acting as joint book-running managers for the offering.
LifeSci Capital is acting as lead manager for the offering.
The securities are being offered pursuant to an
effective shelf registration statement that was filed with the U.S.
Securities and Exchange Commission (the “SEC”) on November 1, 2021.
This offering is being made only by means of a prospectus
supplement and the accompanying prospectus which forms a part of
the effective shelf registration statement.
A preliminary prospectus supplement related to the
offering (including the accompanying prospectus) has been filed
with the SEC and is available on the SEC’s website located at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus may also be obtained, when available, from
BofA Securities, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or
via email at dg.prospectus_requests@bofa.com; Jefferies by
telephone at 1-877-821-7388 or by email at
prospectus_department@jefferies.com; Barclays, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
by telephone at 1-888-603-5847 or by email at
barclaysprospectus@broadridge.com; and Raymond James at
1-800-248-8863 or by email at prospectus@raymondjames.com.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.About Tarsus Pharmaceuticals,
Inc.Tarsus Pharmaceuticals, Inc. applies proven science
and new technology to revolutionize treatment for patients,
starting with eye care. It is advancing its pipeline to address
several diseases with high unmet need across a range of therapeutic
categories, including eye care, dermatology, and infectious disease
prevention. The company is studying two investigational medicines
in clinical trials. Its lead product candidate, TP-03, is a novel
therapeutic which has demonstrated positive results in two pivotal
trials for the treatment of Demodex blepharitis. TP-03 is
also being developed for the treatment of Meibomian Gland Disease.
In addition, Tarsus is developing TP-05, an oral, non-vaccine
therapeutic for the prevention of Lyme disease, which is currently
being studied in a Phase 1b clinical trial. Forward Looking
StatementsStatements in this press release may contain
“forward-looking statements” that are subject to substantial risks
and uncertainties. Forward-looking statements contained in this
press release may be identified by the use of words such as “may,”
“will,” “should,” “expect,” “plan,” “anticipate,” “could,”
“intend,” “target,” “project,” “contemplate,” “believe,”
“estimate,” “predict,” “potential” or “continue” or the negative of
these terms or other similar expressions, and include, but are not
limited to, statements regarding the completion of the public
offering. Any forward-looking statements are based on Tarsus’
current expectations, forecasts, and assumptions and are subject to
a number of risks and uncertainties that could cause actual
outcomes and results to differ materially and adversely from those
set forth in or implied by such forward-looking statements. These
risks and uncertainties include, but are not limited to, risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering. For a
discussion of other risks and uncertainties, and other important
factors, any of which could cause our actual results to differ from
those contained in the forward-looking statements, see the section
entitled "Risk Factors" in Tarsus’ most recent Annual Report on
Form 10-K, its other reports filed with the SEC, as well as in the
final prospectus supplement related to the public offering.
Forward-looking statements contained in this announcement are based
on information available to Tarsus as of the date hereof and are
made only as of the date of this release. Tarsus undertakes no
obligation to update such information except as required under
applicable law. These forward-looking statements should not be
relied upon as representing Tarsus’ views as of any date subsequent
to the date of this press release. In light of the foregoing,
investors are urged not to rely on any forward-looking statement in
reaching any conclusion or making any investment decision about any
securities of Tarsus.Contacts:Media
ContactAdrienne KempSr. Director, Corporate Communications(949)
922-0801AKemp@tarsusrx.com
Investor Contact:David NakasoneHead of Investor
Relations(949) 620-3223DNakasone@tarsusrx.com
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