REDWOOD CITY, Calif.,
Dec. 5, 2012 /PRNewswire/
-- AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX), today
announced a proposed underwritten public offering of
10,000,000 shares of its common stock pursuant to a registration
statement filed with the Securities and Exchange Commission
("SEC"). AcelRx will grant the underwriters a 30-day
option to acquire up an additional 1,500,000 shares to cover
over-allotments, if any. All of the shares in the offering
are to be sold by AcelRx. The offering is subject to market and
other conditions, and there can be no assurance as to the timing
and actual size or terms of the offering.
Jefferies & Company, Inc. and Cowen and Company, LLC are
acting as joint book-running managers for the proposed offering,
with Canaccord Genuity Inc. acting as co-lead manager.
The offering will be made only by means of a prospectus. When
available, copies of the preliminary prospectus relating to the
proposed public offering may also be obtained from the offices of
Jefferies & Company, Inc., Equity Syndicate Prospectus
Department, at 520 Madison Avenue, New
York, NY, 10022 (Telephone number (877) 547-6340) or by
emailing Prospectus_Department@Jefferies.com, or from the offices
of Cowen and Company, LLC c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY,
11717, Prospectus Department, (Telephone number (631)
274-2806).
A registration statement relating to these securities has been
filed with the SEC, but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About AcelRx Pharmaceuticals, Inc.
AcelRx Pharmaceuticals is a specialty pharmaceutical company
focused on the development and commercialization of innovative
therapies for the treatment of acute and breakthrough pain.
Forward-Looking Information is Subject to Risk and
Uncertainty
Certain of the statements made in this press release are
forward looking, such as those, among others, relating to AcelRx's
expectations regarding the completion of the proposed public
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not
AcelRx will be able to raise capital through the sale of shares of
common stock, the final terms of the proposed offering, market and
other conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of
general economic, industry or political conditions in the United States or internationally.
There can be no assurance that AcelRx will be able to complete the
proposed public offering on the anticipated terms, or at all.
AcelRx will need to raise additional capital to fund its operations
and may be unable to raise capital when needed, which would force
AcelRx to delay, reduce or eliminate its product development
programs or commercialization efforts. You should not place undue
reliance on these forward-looking statements, which apply only as
of the date of this press release. Additional risks
and uncertainties relating to the proposed offering, AcelRx and its
business can be found under the heading "Risk Factors" in the
prospectus included in AcelRx's Registration Statement on Form S-1,
including any documents incorporated by reference therein (File No.
333-185067), initially filed with the SEC on November 20, 2012. AcelRx expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in its expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statements are based.
SOURCE AcelRx Pharmaceuticals, Inc.