Brickell Biotech (BBI) Prices 26.3M Share Offering at $0.38/sh

Brickell Biotech, Inc. (Nasdaq: BBI) (“Brickell”), a clinical-stage pharmaceutical company striving to transform patient lives by developing innovative and differentiated prescription therapeutics for the treatment of dermatologic, autoimmune and other debilitating diseases, announced today the pricing of its previously announced underwritten public offering of 26,316,000 shares of its common stock at a price to the public of $0.38 per share. In addition, Brickell has granted the underwriters a 30-day option to purchase up to 3,947,400 additional shares of common stock at the public offering price, less the underwriting discount. The offering is expected to close on November 1, 2021, subject to customary closing conditions.

The gross proceeds from the public offering, before deducting the underwriting discount and offering expenses payable by Brickell, are expected to be approximately $10.0 million. Brickell intends to use the net proceeds of this offering for research and development, including clinical trials, working capital, business development and general corporate purposes.

William Blair & Company, L.L.C. and Oppenheimer & Co. Inc. are acting as joint book-running managers for the offering.

The securities are being offered pursuant to a “shelf” registration statement on Form S-3 (File No. 333-254037) filed with the Securities and Exchange Commission (“SEC”) and declared effective on March 17, 2021. The offering is being made solely by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus, and the final prospectus supplement and accompanying prospectus, when available, may also be obtained from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by calling (800) 621-0687, or emailing [email protected], or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, or by calling (212) 667-8055, or emailing [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction 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. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus, which are a part of the effective registration statement.

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• AZZ, Inc. (AZZ) Announces Proposed 4M Share Offering
• Genco Shipping & Trading Limited (GNK) Sends Letter to Shareholders