AcelRx Prices Stock Issue

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AcelRx (NASDAQ: ACRX  ) has slapped a price tag on its recently announced common stock offering. The company's shares will be sold to the market in an underwritten public flotation at a cost of $11.65 apiece. The firm has also granted its underwriters a 30-day purchase option for up to an additional 570,000 shares.

In a prospectus filed several days ago with the SEC, AcelRx said that it intends to use its share of the estimated gross proceeds of $44.3 million for commercialization and regulatory approval efforts regarding Zalviso. This is a treatment the company says is "designed to solve the problems associated with post-operative intravenous patient-controlled analgesia." It will also utilize the funds as working capital, and for "other corporate purposes."

Leucadia's (NYSE: LUK  ) Jefferies and Piper Jaffray are the joint-book running managers of the issue.

Currently, AcelRx has 37.2 million shares outstanding, and its stock most recently closed at $12.48 per share.

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Related Tickers

9/30/2016 4:00 PM
ACRX $3.89 Up +0.17 +4.57%
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