| Home : March 2015 : March 25, 2015 News : Esperion Therapeutics Announces Closing of Follow-On Public Offering and Exercise in Full of Underwriters' Option to Purchase Additional Shares of Common Stock |
Esperion Therapeutics Announces Closing of Follow-On Public Offering and Exercise in Full of Underwriters' Option to Purchase Additional Shares of Common Stock |
March 25, 2015
ANN ARBOR, MI--(Marketwired - March 24, 2015) - Esperion Therapeutics, Inc. (NASDAQ: ESPR), an emerging pharmaceutical company focused on developing and commercializing first-in-class, oral low-density lipoprotein cholesterol (LDL-cholesterol) lowering therapies for the treatment of hypercholesterolemia and other cardiometabolic risk markers, today announced the closing of its follow-on public offering of 2,012,500 shares of common stock, offered at a price to the public of $100.00 per share, which includes the exercise in full by the underwriters of their option to purchase 262,500 additional shares of common stock. This exercise brings the net proceeds in the offering to $189.9 million, after deducting underwriting discounts and commissions and estimated expenses payable by Esperion. Esperion intends to use the net proceeds from the offering, as well as its other existing capital resources, to complete the clinical development of ETC-1002, including development of a fixed-dose combination of ETC-1002 and ezetimibe for statin intolerant patients, pre-commercial launch activities for ETC-1002 in the statin intolerant patient population, the initiation of a cardiovascular outcomes trial for high-risk patients who have had a cardiovascular event, working capital, and for general corporate and administrative expenses.
http://www.marketwired.com/mw/release.do?id=2003333&sourceType=3
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