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Press Release

AcelRx Pharmaceuticals Announces Proposed Public Offering of Common Stock

AcelRx Pharmaceuticals,Inc.
Posted on: 09 Nov 18
AcelRx Pharmaceuticals Announces Proposed Public Offering of Common Stock

PR Newswire

REDWOOD CITY, Calif., Nov. 9, 2018

REDWOOD CITY, Calif., Nov. 9, 2018 /PRNewswire/ -- AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX) today announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. AcelRx expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.

Credit Suisse Securities (USA) LLC, Jefferies LLC, Cantor Fitzgerald & Co. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

AcelRx intends to use the net proceeds from the offering, in addition to its existing cash resources, to fund the commercial launch of DSUVIA and for general corporate purposes.

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and is effective.  The offering will be made solely by means of a prospectus supplement and accompanying prospectus.  A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov.  When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by telephone at (800) 221-1037, or by e-mail at newyork.prospectus@credit-suisse.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by e-mail at Prospectus_Department@Jefferies.com, or by phone at (877) 821-7388.

This press release does not constitute an offer to sell, a solicitation of an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About AcelRx Pharmaceuticals, Inc.

AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings.  

Forward-Looking Information is Subject to Risk and Uncertainty

Certain of the statements made in this press release are forward looking, such as those, among others, relating to AcelRx's expectations regarding the completion of the proposed public offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to whether or not AcelRx will be able to raise capital through the sale of shares of common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing conditions related to the proposed public offering and the impact of general economic, industry or political conditions in the United States or internationally. There can be no assurance that AcelRx will be able to complete the proposed public offering on the anticipated terms, or at all. AcelRx will need to raise additional capital to fund its operations and may be unable to raise capital when needed, which would force AcelRx to delay, reduce or eliminate its product development programs or commercialization efforts. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.  Additional risks and uncertainties relating to AcelRx and its business can be found under the heading "Risk Factors" in AcelRx's Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, filed with the SEC on November 5, 2018, and in the preliminary prospectus supplement related to the proposed offering to be filed with the SEC on or about the date hereof. AcelRx expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

 

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SOURCE AcelRx Pharmaceuticals, Inc.

PR Newswire
www.prnewswire.com

Last updated on: 09/11/2018

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