Business
Esperion Announces $56.7 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
ANN ARBOR, Mich., March 20, 2023 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) (“Esperion” or the “Company”), today announced that it has entered into a
About this update from Esperion Therapeutics, Inc.
[{"type":"text","content":"ANN ARBOR, Mich., March 20, 2023 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) (“Esperion” or the “Company”), today announced that it has entered into a definitive agreement with healthcare-focused institutional investors for the issuance and sale of an aggregate of 33,170,747 shares of its common stock (or common stock equivalents in lieu thereof) and short-term warrants to purchase up to an aggregate of 33,170,747 shares of common stock in a registered direct offering priced at-the-market under Nasdaq rules. Each share of common stock (or common stock equivalent in lieu thereof) is being sold together with one short-term warrant to purchase one share of common stock at a combined purchase price of $1.675. The short-term warrants will be immediately exercisable upon issuance, will expire three and a half years following the issuance date and have an exercise price of $1.55 per share. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The closing of the offering is expected to occur on or about March 22, 2023, subject to the satisfaction of customary closing conditions. The total gross proceeds from the offering are expected to be approximately $56.7 million. Esperion intends to use the net proceeds of this offering for general corporate purposes. The securities described above are being offered by Esperion pursuant to a shelf registration statement on Form S-3 (File No. 333-264303) that was originally filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2022 and subsequently declared effective on April 26, 2022. The securities are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying base prospectus relating to, and describing the terms of, the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park Ave., New York, New York 10022, by telephone at (212) 856-5711, or by email at [email protected]. The Company also has agreed to amend certain existing warrants to purchase up to an aggregate of 9,024,212 share...