TRACON Pharmaceutical (TCON) Prices 2.625M Share Common Stock Offering for Proceeds of ~$15.1M

November 23, 2016 8:55 AM EST
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TRACON Pharmaceuticals (Nasdaq: TCON) announced the pricing of an underwritten public offering of 2,625,000 shares of its common stock at a price to the public of $5.75 per share. The gross proceeds to TRACON from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $15.1 million. The offering is expected to close on or about November 29, 2016, subject to customary closing conditions. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 393,750 shares of common stock at the public offering price, less the underwriting discounts and commissions.

Jefferies LLC and Stifel are acting as joint book-running managers for the offering. BTIG, LLC is acting as co-manager.

TRACON intends to use the net proceeds from this offering to fund its ongoing and planned development of TRC105, including the planned global Phase 3 trial in angiosarcoma, to continue development of other pipeline assets such as TRC205, and for working capital and general corporate purposes.

The securities described above are being offered by TRACON pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission (SEC) on March 31, 2016. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC on November 22, 2016 and are available for free on the SEC's website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, as well as the final prospectus supplement relating to the offering, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at prospectus_department@jefferies.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com.



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