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Arcutis Biotherapeutics Announces Proposed Public Offering of Common Stock
WESTLAKE VILLAGE, Calif., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (“Arcutis”) (Nasdaq: ARQT), an early commercial-stage
About this update from Arcutis Biotherapeutics, Inc.
[{"type":"text","content":"WESTLAKE VILLAGE, Calif., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (“Arcutis”) (Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today announced the commencement of an underwritten public offering of $150.0 million of shares of its common stock. All of the shares in the offering are being sold by Arcutis. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering. In addition, Arcutis intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price. Morgan Stanley, Cowen, and Guggenheim Securities are acting as bookrunning managers for the proposed offering. The securities are being offered pursuant to an effective shelf registration statement that was filed with the Securities and Exchange Commission (the “SEC”) on February 1, 2021. This proposed offering will be made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement. A preliminary prospectus supplement related to the proposed offering (including the accompanying prospectus) will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at [email protected]; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, by telephone at (833) 297-2926, or by email at [email protected]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, New York 10017, by telephone at (212) 518-9658, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall ...