Trevi Therapeutics (TRVI) Prices 12.5M Share Offering at $4/sh

Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company developing the investigational therapy, Haduvio™ (oral nalbuphine ER) for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC), today announced the pricing of an underwritten offering of 12,500,000 shares of its common stock at a price to investors of $4.00 per share, for total proceeds of $50 million, before deducting underwriting discounts and commissions and expenses payable by Trevi. All of the shares in the offering are being sold by Trevi. The offering is expected to close on December 17, 2024, subject to satisfaction of customary closing conditions.

The financing includes participation from new and existing investors, including Adage Capital Partners LP, Frazier Life Sciences, Logos Capital, MPM BioImpact, Rubric Capital Management LP and Vivo Capital.

Leerink Partners, Stifel and Oppenheimer & Co. are acting as joint book-running managers for the offering. Needham & Company is acting as lead manager for the offering. Jones and B. Riley Securities are acting as co-managers for the offering.

The shares are being offered by Trevi pursuant to a shelf registration statement on Form S-3 (File No. 333-273030), which was filed with the Securities and Exchange Commission (SEC) on June 29, 2023 and declared effective by the SEC on August 15, 2023. This offering is being made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. The final terms of the offering will be disclosed in a prospectus supplement to be filed with the SEC. When available, copies of the prospectus supplement and the accompanying prospectus may also be obtained from Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected]; or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at [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 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.

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