AcelRx Pharma (ACRX) Prices $27.5 Million Public Offering of Common Stock

AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX) (AcelRx), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in healthcare institutions, today announced the pricing of its underwritten public offering of 14.5 million shares of its common stock for gross proceeds of approximately $27.5 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by AcelRx. The offering is expected to close on or about January 22, 2021, subject to customary closing conditions. In addition, AcelRx has granted the underwriter a 30-day option to purchase up to approximately 2.2 million additional shares of common stock.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

The underwriter may offer the shares from time to time for sale in one or more transactions on the Nasdaq Global Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. On January 19, 2021, the last sale price of the shares as reported on the Nasdaq Global Market was $2.35 per share.

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