Heron Therapeutics, Inc. Announces Pricing of Underwritten Offering of Common Stock
06/25/2014
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REDWOOD CITY, Calif.--(BUSINESS WIRE)--Jun. 25, 2014--
Heron Therapeutics, Inc. (NASDAQ: HRTX), a specialty pharmaceutical
company, today announced the pricing of an underwritten offering of
4,500,000 shares of its common stock, offered at a price of $11.75 per
share. Heron Therapeutics, Inc. has granted the underwriters a 30-day
option to purchase up to an additional 675,000 shares of common stock.
As a component of the offering, in lieu of common stock Heron
Therapeutics, Inc. is offering to certain existing large investors
pre-funded warrants to purchase up to an aggregate of 600,000 shares of
common stock at a purchase price of $11.74 per warrant, which represents
the per share public offering price for the common stock less
the $0.01 per share exercise price for each such pre-funded warrant. The
offering is expected to close on or about June 30, 2014, subject to
customary closing conditions. Jefferies LLC and Leerink Partners LLC are
acting as joint book-runners for the offering. JMP Securities LLC, Brean
Capital, LLC and Noble Financial Group, Inc. are acting as co-managers
for the offering.
Gross offering proceeds will be approximately $60,000,000 before
deducting customary underwriting discounts and commissions and offering
expenses. Heron Therapeutics, Inc. intends to use the net proceeds from
the underwritten offering for general corporate purposes, funding
ongoing and future clinical trials and for general and administrative
expenses.
The securities described above are being offered pursuant to a shelf
registration statement (File No. 333-195928), which was declared
effective by the United States Securities and Exchange Commission
(“SEC”) on May 23, 2014. 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
SEC’s website at www.sec.gov,
or by request at Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 12th Floor, New York, NY 10022,
telephone: (877) 547-6340, e-mail: Prospectus_Department@Jefferies.com.
Source: Heron Therapeutics, Inc.
Heron Therapeutics, Inc.
Investor Relations Contact:
Jennifer
Capuzelo, 858-703-6063
Sr. Manager, Investor Relations
jcapuzelo@herontx.com
and
Corporate
Contact:
Brian Drazba, 650-366-2626
Vice President,
Finance and Chief Financial Officer