Heron Therapeutics, Inc. Announces Pricing of Underwritten Offering of Common Stock
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Jun. 10, 2015--
Heron Therapeutics, Inc. (NASDAQ: HRTX), a biotechnology company, today
announced the pricing of an underwritten offering of 4,800,000 shares of
its common stock, offered at a price of $24.75 per share. Heron
Therapeutics, Inc. has granted the underwriters a 30-day option to
purchase up to an additional 720,000 shares of common stock. The
offering is expected to close on or about June 15, 2015, subject to
customary closing conditions. Jefferies LLC, Leerink Partners LLC and
Cowen and Company, LLC are acting as joint book-runners for the
offering. JMP Securities LLC, Brean Capital, LLC and Noble Life Science
Partners are acting as co-managers for the offering.
The gross offering size will be approximately $119 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 commercial launch of SUSTOL®
(granisetron injection, extended release), if approved, funding the
company’s ongoing and future clinical trials, preclinical development
work, and for general and administrative expenses, or other product
The securities described above are being offered pursuant to shelf
registration statements (File Nos. 333-195928 and 333-198862), which
were declared effective by the United States Securities and Exchange
Commission (“SEC”) on May 23, 2014 and October 6, 2014, respectively.
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, 2nd Floor, New York, NY 10022,
telephone: (877) 547-6340, e-mail: Prospectus_Department@Jefferies.com.
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Source: Heron Therapeutics, Inc.
Investor Relations Contact:
Heron Therapeutics, Inc.
Sr. Manager, Investor Relations
Heron Therapeutics, Inc.
Vice President, Finance and Chief Financial Officer