Recro Pharma (REPH) Prices 1.99M Common Stock Offering at $7.50/Share
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Recro Pharma, Inc. (Nasdaq: REPH) announced the pricing of an underwritten public offering of 1,986,666 shares of its common stock at a price of $7.50 per share.
All shares in the offering are being sold by Recro, with expected gross proceeds to Recro of approximately $15 million. The offering is expected to close on or about August 19, 2016, subject to the satisfaction of customary closing conditions.
Recro intends to use the net proceeds of the proposed offering to fund its ongoing Phase III pivotal clinical trial and safety studies of injectable meloxicam and for general corporate purposes.
Piper Jaffray & Co. is acting as sole book-running manager and representative of the underwriters for the offering. Janney Montgomery Scott is acting as co-manager for the offering.
The offering is being made by Recro pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the “SEC”) on August 20, 2015 and declared effective by the SEC on September 1, 2015. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus related to the offering has been filed with the SEC and is available on the website of the SEC at www.sec.gov. When available, copies of the final prospectus supplement and accompanying prospectus may be obtained from Piper Jaffray at 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus Department, or by calling (800) 747-3924, or by emailing email@example.com.
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