Heron Therapeutics Announces Pricing of Underwritten Public Offering of Common Stock
SAN DIEGO--(BUSINESS WIRE)--Jan. 19, 2017--
Heron Therapeutics, Inc. (NASDAQ: HRTX), a commercial-stage
biotechnology company focused on developing novel best-in-class
treatment solutions to address some of the biggest unmet patient needs,
today announced the pricing of an underwritten public offering of $150
million of shares of its common stock, offered at a price of $12.20 per
share. Heron Therapeutics, Inc. has granted the underwriters a 30-day
option to purchase up to an additional $22.5 million of shares of common
stock. The offering is expected to close on or about January 24, 2017,
subject to customary closing conditions. BofA Merrill Lynch, Cowen and
Company, LLC and Leerink Partners LLC are acting as joint book-running
managers for the offering. Cantor Fitzgerald & Co. and JMP Securities
LLC are acting as lead managers and Noble Capital Markets, LifeSci
Capital, Aegis Capital Corp and Lake Street Capital Markets are acting
as co-managers for the offering.
The gross offering size will be approximately $150 million before
deducting customary underwriting discounts and commissions and offering
expenses. Heron Therapeutics, Inc. intends to use the net proceeds from
the underwritten offering primarily for general corporate purposes,
which include, but are not limited to, the continued commercialization
and marketing of SUSTOL®, the commercial launch of CINVANTI™,
if approved by the U.S. Food and Drug Administration, funding the
company’s ongoing and future clinical trials, including further Phase 2
studies and Phase 3 studies of HTX-011, preclinical development work,
for general and administrative expenses, repayment of a portion of its
outstanding debt, or other product development activities.
The securities described above are being offered pursuant to a shelf
registration statement (File No. 333-212784), which became effective
automatically on July 29, 2016. A final prospectus supplement relating
to and describing the terms of the offering will be filed with the SEC.
The securities described above have not been qualified under any state
blue sky laws. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy these securities, nor shall there
be any 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. The offering can be made only by means of a
prospectus, copies of which may be obtained at the United States
Securities and Exchange Commission’s website at www.sec.gov,
or by request at BofA Merrill Lynch, NC1-004-03-43, 200 North College
Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus
Department or by email at firstname.lastname@example.org;
Cowen and Company, LLC, c/o Broadridge Financial Services, Attention:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at (631) 274-2806 or by fax at (631) 254-7140; and Leerink
Partners LLC, Attention: Syndicate Department, One Federal Street, 37th
Floor, Boston, MA 02110, by telephone at (800) 808-7525 ext. 6142 or by
email at email@example.com.
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Source: Heron Therapeutics, Inc.
Investor Relations Contact:
Heron Therapeutics, Inc.
Senior Vice President, General Counsel &
Heron Therapeutics, Inc.
Senior Vice President, General Counsel & Corporate