Osmotica Announces Pricing of Public Offering of Ordinary Shares

Rhea-AI Summary

Osmotica Pharmaceuticals (NASDAQ: OSMT) announced a public offering of 5,000,000 ordinary shares priced at $6.55 each, which is set to close on July 16, 2020, pending customary closing conditions. The company is also granting underwriters a 30-day option to purchase an additional 750,000 shares. This offering is part of Osmotica's ongoing strategy to enhance its capital position. The shares are being offered under an effective registration statement with the SEC, ensuring compliance and transparency for potential investors.

Positive

• The offering is aimed at strengthening the company's capital position.
• The pricing at $6.55 demonstrates investor interest at a stable price point.
• Opportunity for underwriters to purchase additional shares may indicate confidence in future growth.

Negative

• The public offering may dilute existing shareholders' equity.
• Potential market reactions could negatively impact share prices post-offering.

BRIDGEWATER, N.J., July 13, 2020 (GLOBE NEWSWIRE) -- Osmotica Pharmaceuticals plc (Nasdaq: OSMT) (“Osmotica” or the “Company”), a fully integrated biopharmaceutical company, announced today the pricing of its previously announced public offering of 5,000,000 ordinary shares at a price to the public of $6.55 per share. All of the shares are being offered by Osmotica. Osmotica also is granting the underwriters a 30-day option to purchase up to an additional 750,000 ordinary shares. The offering is expected to close on July 16, 2020, subject to satisfaction of customary closing conditions.

Credit Suisse Securities (USA) LLC is acting as sole bookrunner for the offering.

The ordinary shares are being offered and sold pursuant to the Company’s effective registration statement on Form S-3 (File No. 333-236193) filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 31, 2020 and declared effective on February 12, 2020. The offering is being made only by means of a written prospectus, including a prospectus supplement, that forms part of the registration statement. A prospectus supplement relating to the Company’s ordinary shares to be sold in the offering will be filed with the SEC. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. A copy of the prospectus supplement and accompanying prospectus may be obtained, once available, from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, United States, by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

About Osmotica Pharmaceuticals plc

Osmotica Pharmaceuticals plc (Nasdaq: OSMT) is a fully integrated biopharmaceutical company focused on the development and commercialization of specialty products that target markets with underserved patient populations. The company has a diverse portfolio consisting of four promoted products and approximately 30 non-promoted products, several of which incorporate Osmotica’s proprietary Osmodex^® drug delivery system. RVL Pharmaceuticals, Inc. is the Company’s ophthalmic subsidiary supporting Upneeq^TM. Vertical Pharmaceuticals, LLC represents the Company’s diversified branded portfolio and Trigen Laboratories, LLC represents the Company’s non-promoted products, including complex generic formulations.

Osmotica has operations in the United States, Argentina, and Hungary.

Forward-Looking Statements

This press release includes statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The Company’s actual results may vary significantly from the results anticipated in these forward-looking statements, which can generally be identified by the use of forward-looking terminology, including the terms “believes,” “expects,” “may,” “will,” “should,” “seeks,” “projects,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or, in each case, their negatives or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, such as statements regarding the anticipated closing of the offering. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company may not achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place significant reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company makes. Important factors that could cause actual results and events to differ materially from those indicated in the forward-looking statements include the risks and uncertainties described in the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission on March 19, 2020, and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, as filed with the Securities and Exchange Commission on May 12, 2020, under the heading “Risk Factors” included in the preliminary prospectus related to the public offering filed with the Securities and Exchange Commission and the other filings that the Company makes with the Securities and Exchange Commission. These forward-looking statements speak only as of the time of this release and the Company does not undertake to publicly update or revise them, whether as a result of new information, future events or otherwise, except as required by law.

Investor and Media Relations for Osmotica Pharmaceuticals plc
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

FAQ

What is the share price for Osmotica Pharmaceuticals' public offering?

The public offering price for Osmotica Pharmaceuticals' shares is set at $6.55 each.

How many shares are being offered in Osmotica Pharmaceuticals' public offering?

Osmotica Pharmaceuticals is offering 5,000,000 ordinary shares in its public offering.

When is the closing date for Osmotica Pharmaceuticals' public offering?

The offering is expected to close on July 16, 2020, subject to customary closing conditions.

Who is handling the public offering for Osmotica Pharmaceuticals?

Credit Suisse Securities (USA) LLC is acting as the sole bookrunner for the offering.