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Revance closes public offering raising $167.1M

Revance Therapeutics Inc. closed its public offering of 6,139,515 common shares at $31 apiece with $167.1 million in gross proceeds.

In the offering, the company issued 5,389,515 common shares, including the exercise in full by the underwriters of their option to buy 550,806 additional shares.

Certain stockholders of Revance sold 750,000 common shares, including the full exercise of the underwriters' option for 250,000 additional shares.

Revance intends to use the net proceeds for general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments.

The company did not receive any proceeds from the sale of the shares by the stockholders.

Goldman Sachs & Co. LLC and Cowen acted as book-running managers, Barclays acted as joint lead manager while Cantor Fitzgerald & Co., William Blair & Co. LLC and SunTrust Robinson Humphrey were the co-managers for the offering.