Travere Therapeutics Announces Completion of Public Offering of Common Stock and Exercise in Full of Underwriters’ Option to Purchase Additional Shares
Travere Therapeutics has completed an underwritten public offering of 7,532,500 shares of its common stock at $26.75 per share, raising approximately $201.5 million in gross proceeds. The offering included 982,500 shares from the full exercise of underwriters’ options. The shares were sold under an effective shelf registration statement filed with the SEC. The offering was managed by BofA Securities, Jefferies, and SVB Leerink.
- Raised approximately $201.5 million in gross proceeds.
- Demand indicated by full exercise of underwriters’ option for additional shares.
- Potential dilution of existing shares due to the offering.
SAN DIEGO, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (Nasdaq: TVTX) today announced the completion of its previously announced underwritten public offering of 7,532,500 shares of its common stock at a price to the public of
BofA Securities, Jefferies and SVB Leerink acted as the joint book-running managers for the offering. Canaccord Genuity acted as lead manager.
The shares of common stock described above were offered by Travere pursuant to a shelf registration statement filed by Travere with the Securities and Exchange Commission (SEC) that became automatically effective on September 4, 2018. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to this offering may be obtained from BofA Securities, Attention Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, NC 28255 or by email at dg.prospectus_requests@bofa.com; from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 or by email at Prospectus_Department@Jefferies.com; or from SVB Leerink, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110 or by email at syndicate@svbleerink.com.
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.
About Travere Therapeutics
At Travere Therapeutics we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com.
Contact:
Chris Cline, CFA
Senior Vice President, Investor Relations & Corporate Communications
888-969-7879
IR@travere.com
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