Esperion Therapeutics Prices Public Offering Of 1.75 Mln Shares At $100/shr

(RTTNews) - Esperion Therapeutics, Inc. (ESPR) announced that it has priced an underwritten public offering of 1.75 million shares of its common stock at $100.00 per share. The gross proceeds from this offering to Esperion are expected to be $175 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Esperion.

Esperion has granted the underwriters a 30-day option to purchase up to an additional 262,500 shares of its common stock.

The offering is expected to close on or about March 24, 2015, subject to customary closing conditions.

Esperion said it intends to use the net proceeds from the offering, as well as its other existing capital resources, to complete the clinical development of ETC-1002, including development of a fixed-dose combination of ETC-1002 and ezetimibe for statin intolerant patients, pre-commercial launch activities for ETC-1002 in the statin intolerant patient population, the initiation of a cardiovascular outcomes trial for high-risk patients who have had a cardiovascular event, working capital, and for general corporate and administrative expenses.