Acer Therapeutics Announces Pricing Of Underwritten Public Offering Of Common Stock

NEWTON, Mass., Dec. 12, 2017 (GLOBE NEWSWIRE) -- Acer Therapeutics Inc. (Nasdaq:ACER), a pharmaceutical company focused on the acquisition, development and commercialization of therapies for serious rare and ultra-rare diseases with critical unmet medical need, today announced the pricing of its underwritten public offering of 916,667 shares of its common stock at a public offering price of $12.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Acer, are expected to be approximately $11.0 million. In addition, Acer granted the underwriters a 30-day option to purchase up to 137,500 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. All shares in the offering will be sold by Acer.

Acer intends to use the net proceeds from this offering to fund its research and development efforts, to seek regulatory approval for EDSIVO™, to invest in pre-commercial activities for EDSIVO™ and for general corporate purposes, including working capital and other general and administrative purposes.

William Blair & Company, L.L.C. is acting as sole book-running manager of the offering. H.C. Wainwright & Co. is acting as lead manager of the offering.

The offering is expected to close on or about December 14, 2017, subject to customary closing conditions.

The shares of common stock described above are being offered by Acer pursuant to its shelf registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission. The offering is being made only by means of a prospectus supplement and an accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606; Telephone: (800) 621-0687 or by email at [email protected].

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and ...

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