Evolus Reports Pricing Of $50 Mln Underwritten Offering Of Common Stock

(RTTNews) - Monday, Evolus, Inc. (EOLS) announced the pricing of the underwritten offering of 3,554,000 shares of its common stock at $14.07 per share, matching the closing price on Friday, March 8, 2024.

The company expects gross proceeds of approximately $50 million, excluding underwriting discounts, commissions, and other offering expenses.

Moreover, the underwriters have the option to purchase up to 533,100 additional shares at the offering price minus underwriting discounts and commissions within 30 days.

The company plans to use the net proceeds to support Jeuveau's growth, fund the launch of Evolysse, explore potential business development opportunities, and for general corporate purposes.

The offering is projected to close around March 13, 2024, pending customary closing conditions, with Leerink Partners and Stifel serving as joint book-running managers for the offering.