TRACON Pharmaceutical (TCON) Announces Common Stock Offering

November 22, 2016 4:02 PM EST
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TRACON Pharmaceuticals (Nasdaq: TCON) announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are being sold by TRACON. In addition, TRACON expects to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount up to 15% of the shares sold in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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 will be filed with the SEC and will be 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, when available, may also 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 from 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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