Esperion Therapeutics Prices Public Offering Of 4.25 Mln Shares At $20 Per Share

(RTTNews) - Esperion Therapeutics, Inc. (ESPR) announced the pricing of an underwritten public offering of 4.25 million shares of its common stock, offered at a price to the public of $20.00 per share.

The gross proceeds from this offering to Esperion are expected to be $85 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 637,500 shares of its common stock. The offering is expected to close on or about October 21.

Esperion plans to use the net proceeds from the offering, as well as its other existing capital resources, to fund the continued development of ETC-1002 through the anticipated Phase 3 development program.

J.P. Morgan and BofA Merrill Lynch are acting as joint book-running managers for the offering with JMP Securities, Stifel, and Needham & Company acting as co-managers for the offering.