TherapeuticsMD Announces Closing of its Underwritten Public Offering of Common Stock

Rhea-AI Summary

TherapeuticsMD, Inc. (NASDAQ:TXMD) has successfully closed its underwritten public offering of 59,459,460 shares of common stock, generating approximately $97.1 million in net proceeds. The offering was fully sold by TherapeuticsMD, which has also granted the underwriter a 30-day option to acquire up to 8.9 million additional shares. Cantor Fitzgerald & Co. served as the sole bookrunning manager. This follows a previously effective shelf registration statement filed with the SEC.

Positive

• Net proceeds from the offering are approximately $97.1 million.
• Successful completion of the public offering may enhance capital for future projects.

Negative

• Issuance of new shares may lead to shareholder dilution.
• Market reaction could be negative due to dilution concerns.

TherapeuticsMD, Inc. (NASDAQ:TXMD) today announced the closing of its underwritten public offering of 59,459,460 shares of its common stock for net proceeds of approximately $97.1 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by TherapeuticsMD. All of the shares in the offering were sold by TherapeuticsMD. In addition, TherapeuticsMD has granted the underwriter a 30-day option to purchase up to approximately 8.9 million additional shares of common stock.

Cantor Fitzgerald & Co. was the sole bookrunning manager for the offering.

A shelf registration statement relating to the shares of common stock offered in the public offering described above was previously filed with the Securities and Exchange Commission (“SEC”) and declared effective by the Securities and Exchange Commission (the “SEC”) on May 5, 2020. 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 at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained by contacting Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th floor, New York, NY 10022; Email: prospectus@cantor.com.

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

TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. Our products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. The company is committed to advancing the health of women and championing awareness of their healthcare issues.

Forward-Looking Statements

This press release by TherapeuticsMD, Inc. may contain forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to TherapeuticsMD’s objectives, plans and strategies as well as statements, other than historical facts, that address activities, events or developments that TherapeuticsMD intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the company’s control, that may cause actual results to differ materially, including the risks and uncertainties associated with market conditions, risks and uncertainties associated with TherapeuticsMD’s business and finances in general and other risks described in the sections titled “Risk Factors” in TherapeuticsMD’s filings with the SEC, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, the final prospectus supplement with respect to the offering and other filings with the SEC.

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FAQ

What is the significance of TherapeuticsMD's recent stock offering?

The stock offering allows TherapeuticsMD to raise approximately $97.1 million in net proceeds, which may be used for future business development and growth.

How many shares did TherapeuticsMD sell in the public offering?

TherapeuticsMD sold 59,459,460 shares of its common stock in the public offering.

What options did underwriters receive in the TherapeuticsMD offering?

The underwriter was granted a 30-day option to purchase approximately 8.9 million additional shares.

Who managed the recent stock offering for TherapeuticsMD?

Cantor Fitzgerald & Co. was the sole bookrunning manager for the offering.

What are potential risks associated with the stock offering of TXMD?

Potential risks include shareholder dilution and negative market reactions due to the issuance of new shares.