TherapeuticsMD Prices Public Offering Of About 3.8 Mln Shares At $7.80/shr

(RTTNews) - TherapeuticsMD, Inc. (TXMD) announced the pricing of an underwritten public offering of about 3.8 million shares of its common stock, offered at a price of $7.80 per share.

The gross proceeds to TherapeuticsMD from this offering are expected to be approximately $30.0 million, before deducting underwriting discounts, commissions and other offering expenses payable by TherapeuticsMD.

In addition, TherapeuticsMD has granted the underwriters an option for a period of 30 days to purchase, at the public offering price less the underwriting discount, up to approximately 577,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by TherapeuticsMD. The offering is expected to close on or about July 15, 2015, subject to the satisfaction of customary closing conditions.

TherapeuticsMD intends to use a majority of the proceeds of the offering to partially fund validation and qualification of a secondary manufacturing source for its TX-001HR and TX-004HR drug candidates, as well as continued validation and scale-up of the manufacturing processes for these drug candidates, and for other research, clinical formulation and development and general corporate purposes.