Veru Inc. (NASDAQ: VERU), an oncology biopharmaceutical company with a focus on developing novel medicines for the management of prostate and breast cancer, announced today the pricing of an underwritten public offering of 6,451,613 shares of its common stock at a price to the public of $15.50 per share. The gross proceeds to Veru from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $100 million. In addition, Veru has granted the underwriters a 30-day option to purchase up to an additional 967,741 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about February 22, 2021, subject to the satisfaction of customary closing conditions.

Jefferies is acting as the sole book-running manager for the offering, Cantor and Oppenheimer & Co. are acting as lead managers for the offering, and H.C. Wainwright & Co. and Brookline Capital Markets, a division of Arcadia Securities, LLC are acting as co-managers for the offering.

Veru intends to use the net proceeds of the offering for research and development, clinical trial, regulatory, and sales and marketing expenditures, and for working capital and other general corporate purposes.

The offering is being made by Veru pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (SEC) on June 26, 2020 and declared effective by the SEC on July 1, 2020.