Verrica Pharmaceuticals Inc. Announces Pricing of Initial Public Offering
June 14 2018 - 5:52PM
Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq:VRCA), a
pharmaceutical company focused on identifying, developing and
commercializing innovative pharmaceutical products for the
treatment of skin diseases with significant unmet needs, today
announced the pricing of its initial public offering of 5,000,000
shares of its common stock at a public offering price of $15.00 per
share, for total gross proceeds of approximately $75.0 million
before underwriting discounts and commissions and estimated
offering expenses. In addition, Verrica has granted the
underwriters a 30-day option to purchase up to an additional
750,000 shares of common stock at the public offering price, less
underwriting discounts and commissions. All of the common stock is
being offered by Verrica. The shares are scheduled to begin trading
on the Nasdaq Global Market on June 15, 2018 under the ticker
symbol “VRCA.” The offering is expected to close on June 19, 2018,
subject to customary closing conditions.
BofA Merrill Lynch, Jefferies and Cowen are
serving as joint book-running managers for the offering.
A registration statement relating to the
securities being sold in this offering was declared effective by
the Securities and Exchange Commission on June 14, 2018. This
offering is being made only by means of a prospectus. A copy
of the final prospectus can be obtained, when available, from: BofA
Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor,
Charlotte, NC 28255-0001, Attention: Prospectus Department, or by
email at dg.prospectus_requests@baml.com; Jefferies, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by phone at 1-877-821-7388 or by email
at Prospectus_Department@Jefferies.com; or Cowen, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, or by telephone at (631)
274-2806.
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 Verrica Pharmaceuticals
Inc.
Verrica is a pharmaceutical company focused on
identifying, developing and commercializing innovative
pharmaceutical products for the treatment of skin diseases with
significant unmet needs. The company’s lead product candidate,
VP-102, is currently being evaluated in two Phase 3 clinical trials
for the treatment of molluscum and in a Phase 2 clinical trial for
the treatment of common warts.
Contacts
Chris DegnanChief Financial
Officer484.453.3300 ext. 103info@verrica.com
Patti BankManaging
DirectorWestwicke Partners415.513.1284patti.bank@westwicke.com
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