Revance Therapeutics (RVNC) Prices 6.5M Share Offering at $17/Sh

Revance Therapeutics, Inc. (NASDAQ: RVNC) today announced the pricing of an underwritten public offering of 6,500,000 shares of its common stock at a price to the public of $17.00 per share. Revance has granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 additional shares from the Company. The gross proceeds to the Company from the offering, excluding any exercise by the underwriters of their 30-day option to purchase additional shares, are expected to be approximately $110.5 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The offering is expected to close on or about December 6, 2019, subject to customary closing conditions. The Company intends to use the net proceeds received from its offering of common stock to continue to fund the commercialization of DAXI, and the remainder for working capital, research and development and general corporate purposes.

Cowen, Piper Jaffray & Co. and Stifel are acting as joint lead book-running managers for the offering. Guggenheim Securities is acting as book-running manager for the offering. Needham & Company is acting as co-manager for the offering.

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