Applied Therapeutics Inc. (APLT) Prices $30M Offering at $1/sh

June 23, 2022 5:54 AM EDT

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Applied Therapeutics, Inc. (NASDAQ: APLT) today announced the pricing of its underwritten public offering of 20.0 million shares of its common stock, par value $0.0001 per share, 10.0 million pre-funded warrants to purchase common stock in lieu of common stock to certain investors, and accompanying warrants (“common warrants”) to purchase up to 30.0 million shares of its common stock. Each share of common stock and accompanying common warrant are being offered at a combined public offering price of $1.00, less underwriting discounts and commissions, and each pre-funded warrant and accompanying common warrant are being offered at a combined public offering price of $0.9999, less underwriting discounts and commissions. The pre-funded warrants have an exercise price of $0.0001 per share and the common warrants have an exercise price of $1.00 per share. The pre-funded warrants and the common warrants are immediately exercisable and will expire five years from the date of issuance. The gross proceeds to the Company from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by the Company, are expected to be $30 million.

The Company intends to use the net proceeds from this offering for general corporate purposes. General corporate purposes may include research and development costs, including the conduct of clinical trials and process development and manufacturing of the Company’s product candidates, expansion of the Company’s research and development capabilities, working capital and capital expenditures.

SVB Securities is acting as the sole book-running manager for the offering. The offering is expected to close on June 27, 2022, subject to customary closing conditions.

The offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the final prospectus supplement and the accompanying prospectus relating to the proposed offering, when available, may be obtained from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at 1-800-808-7525, ext. 6105, or by email at [email protected] Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the proposed offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



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