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Revance raises $127.1M from stock offering

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Revance raises $127.1M from stock offering

Revance Therapeutics Inc. said it raised $127.1 million after underwriters of its previously announced offering fully exercised their overallotment option.

The Newark, Calif.-based biotechnology company sold 7,475,000 shares at $17 apiece, including the additional 975,000 shares as part of underwriters' overallotment option.

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

On Nov. 26, 2019, the company filed an application to the U.S. Food and Drug Administration seeking approval for Daxi, the company's competitor to Allergan PLC's botox.