Liquidia Announces Pricing of Public Offering of Common Stock
Liquidia Technologies, Inc. (NASDAQ: LQDA) announced a public offering of 9,375,000 shares of common stock at $8.00 each, yielding gross proceeds of $75 million. This offering is solely by Liquidia, with a 30-day option for underwriters to purchase an additional 1,406,250 shares. The transaction is expected to close on July 2, 2020. Jefferies serves as the sole book-running manager. The offering is conducted under a shelf registration statement declared effective by the SEC in September 2019, and related documents can be accessed via the SEC website.
- Gross proceeds of $75 million from the offering.
- Funds will potentially support the development and commercialization of novel products.
- Dilution of existing shareholders due to the new share issuance.
RESEARCH TRIANGLE PARK, N.C., June 29, 2020 (GLOBE NEWSWIRE) -- Liquidia Technologies, Inc. (NASDAQ: LQDA), a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel products using its proprietary PRINT® technology, announced the pricing of an underwritten public offering of 9,375,000 shares of its common stock at a public offering price of
Jefferies is acting as the sole book-running manager for the offering. Needham & Company and Wedbush PacGrow are acting as co-managers.
The shares of common stock described above are being offered by Liquidia pursuant to its shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Liquidia with the Securities and Exchange Commission (the “SEC”) on August 23, 2019 and declared effective by the SEC on September 10, 2019. The proposed offering will be made only by means of a written prospectus and prospectus supplement that form part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available at the SEC’s website located at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, these securities, 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.
Contact Information
Media:
Michael Parks
Corporate Communications
484.356.7105
michael.parks@liquidia.com
Investors:
Jason Adair
Vice President, Corporate Development and Strategy
919.328.4400
jason.adair@liquidia.com
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