Revance Therapeutics, Inc. priced an underwritten public offering of 5,338,709 common shares at $31 per share.
Of the total number of shares, the company will issue and sell 4,838,709 shares, and certain stockholders will sell 500,000 shares.
The company and the selling stockholders have granted the underwriters an option to buy up to an additional 800,806 shares.
Revance expects gross proceeds from the offering of about $150 million, excluding any exercise of the underwriters' option.
The offering is expected to close Dec. 11, subject to customary closing conditions.
Revance intends to use the net proceeds from the offering for general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments. It will not receive any proceeds from the sale of the shares by the selling stockholders.
Goldman Sachs & Co. LLC and Cowen are acting as book-running managers, Barclays is acting as joint lead manager, and Cantor Fitzgerald & Co., William Blair & Co. LLC and SunTrust Robinson Humphrey are acting as co-managers for the offering.