TFF Pharmaceuticals Prices Offering of Common Stock
March 26 2021 - 8:30AM
Business Wire
TFF Pharmaceuticals, Inc. (NASDAQ: TFFP), a
clinical-stage biopharmaceutical company focused on developing and
commercializing innovative drug products based on its patented Thin
Film Freezing (“TFF”) technology platform, today announced that it
has priced an underwritten offering of 2,855,000 shares of its
common stock, 2,140,000 shares of which are to be sold by the
Company and 715,000 shares of which are to be sold by Lung
Therapeutics, Inc. (“Selling Stockholder”), at an offering price of
$14.00 per share. TFFP expects the aggregate gross proceeds from
this offering to be approximately $40 million, before deducting the
underwriting discount and commissions and other estimated offering
expenses, of which approximately $10 million of the gross proceeds
will be received by the Selling Stockholder. TFFP expects to close
the offering, subject to customary conditions, on or about March
30, 2021.
TFFP intends to use the net proceeds from the proposed offering
for working capital and general corporate purposes.
Roth Capital Partners acted as sole book-running manager for the
offering.
The offering of common stock was made pursuant to TFF
Pharmaceuticals’ shelf registration statement filed with the
Securities and Exchange Commission (“SEC”) and declared effective.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
A preliminary prospectus supplement has been filed with the SEC
and a final prospectus supplement will be filed with the SEC.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the securities being offered may be
obtained, when available, from Roth Capital Partners, LLC. 888 San
Clemente Drive, Newport Beach, CA 92660, Attention: Prospectus
Department, by telephone at (800) 678-9147 or by email at
rothecm@roth.com. Electronic copies of the final prospectus
supplement and accompanying prospectus will also be available on
the SEC's website at http://www.sec.gov.
About TFF Pharmaceuticals TFF Pharmaceuticals, Inc. is a
clinical-stage biopharmaceutical company focused on developing and
commercializing innovative drug products based on its patented Thin
Film Freezing, or TFF, technology platform. Early testing confirms
that the TFF platform can significantly improve the solubility and
absorption of poorly water-soluble drugs, a class of drugs that
comprises approximately one-third of the major pharmaceuticals
worldwide, thereby improving their pharmacokinetics. TFF
Pharmaceuticals has two lead drug candidates: Voriconazole
Inhalation Powder and Tacrolimus Inhalation Powder. The Company
plans to add to this pipeline by collaborating with large
pharmaceutical partners. The TFF Platform is protected by 42
patents issued or pending in the US and internationally.
Safe Harbor This press release contains forward-looking
statements regarding the expected closing of the underwritten
offering and the intended use of proceeds from the offering. The
offering is subject to customary closing conditions and there can
be no assurance as to whether or when the offering may be
completed. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause actual
results to differ materially, including those risks disclosed under
the caption "Risk Factors" in the preliminary prospectus supplement
related to the offering. TFF Pharmaceuticals cautions readers not
to place undue reliance on any forward-looking statements. The
Company does not undertake, and specifically disclaims any
obligation, to update or revise such statements to reflect new
circumstances or unanticipated events as they occur.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210326005237/en/
Company: Glenn Mattes President and CEO TFF
Pharmaceuticals, Inc gmattes@tffpharma.com 737-802-1973 Kirk
Coleman Chief Financial Officer TFF Pharmaceuticals, Inc.
kcoleman@tffpharma.com 817-989-6358 Investor Relations and
Media: Paul Sagan LaVoieHealthScience
psagan@lavoiehealthscience.com 617-865-0041
TFF Pharmaceuticals (NASDAQ:TFFP)
Historical Stock Chart
From Aug 2024 to Sep 2024
TFF Pharmaceuticals (NASDAQ:TFFP)
Historical Stock Chart
From Sep 2023 to Sep 2024