Esperion Therapeutics Inc. priced an underwritten public offering of 3.1 million common shares at $49 apiece, for expected gross proceeds of $151.9 million.
The company also granted underwriters a 30-day option to buy up to an additional 465,000 common shares.
The offering is expected to close on or around Aug. 15, subject to customary closing conditions.
Esperion plans to use net proceeds to help fund its CLEAR Outcomes cardiovascular outcomes trial, support regulatory submissions and pre-commercial launches andinitiate development activities. Proceeds will also be used for working capital and general corporate expenses.
Jefferies LLC, Cowen and UBS Investment Bank are acting as joint book-running managers for the offering, with JMP Securities, Stifel and Needham & Co. as co-managers.