TherapeuticsMD Announces Pricing of $110 Million Public Offering of Common Stock
12 February 2021 - 1:02AM
Business Wire
TherapeuticsMD, Inc. (NASDAQ:TXMD) today announced the pricing
of its underwritten public offering of approximately 59.5 million
shares of its common stock for gross proceeds of $110 million,
before deducting the underwriting discounts and commissions and
other estimated offering expenses payable by TherapeuticsMD. The
offering is expected to close on or about February 16, 2021,
subject to customary closing conditions. In addition,
TherapeuticsMD has granted the underwriter a 30-day option to
purchase up to approximately 8.9 million additional shares of
common stock.
Cantor Fitzgerald & Co. is acting as sole bookrunning
manager for the offering.
The underwriter may offer the shares from time to time for sale
in one or more transactions on the Nasdaq Global Select Market, in
the over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated prices.
On February 10, 2021, the last sale price of the shares as reported
on the Nasdaq Global Select Market was $2.17 per share.
TherapeuticsMD intends to use the net proceeds from the offering
for commercialization of its three FDA-approved products, IMVEXXY®
(estradiol vaginal inserts) for the treatment of moderate-to-severe
dyspareunia (vaginal pain associated with sexual activity), a
symptom of vulvar and vaginal atrophy due to menopause, BIJUVA®
(estradiol and progesterone) capsules, a hormone therapy
combination of bio-identical 17ß-estradiol and bio-identical
progesterone in a single, oral softgel capsule, for the treatment
of moderate-to-severe vasomotor symptoms due to menopause in women
with a uterus, and ANNOVERA® (segesterone acetate/ethinyl estradiol
vaginal system), the first and only annual patient-controlled,
procedure-free, reversible prescription contraceptive option for
women, including to maximize ANNOVERA’s consumer-focused
commercialization strategy. TherapeuticsMD additionally may use a
portion of the net proceeds from the offering to discharge certain
indebtedness currently outstanding under its financing agreement
and intends to use a net portion of the proceeds for working
capital and general corporate purposes.
The securities described above are being offered by
TherapeuticsMD pursuant to a shelf registration statement
previously filed with and declared effective by the Securities and
Exchange Commission (the “SEC”). A preliminary prospectus
supplement and the accompanying prospectus related to the offering
have been filed with the SEC and are available on the SEC’s website
at www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus relating to this offering may be obtained,
when available, from Cantor Fitzgerald & Co., Attn: Capital
Markets, 499 Park Avenue, 6th floor, New York, NY 10022; Email:
prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any 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 TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare
company, focused on developing and commercializing novel products
exclusively for women. Our products are designed to address the
unique changes and challenges women experience through the various
stages of their lives with a therapeutic focus in family planning,
reproductive health, and menopause management. The company is
committed to advancing the health of women and championing
awareness of their healthcare issues.
Forward Looking Statements
This press release by TherapeuticsMD, Inc. may contain
forward-looking statements. Forward-looking statements may include,
but are not limited to, statements relating to TherapeuticsMD’s
objectives, plans and strategies as well as statements, other than
historical facts, that address activities, events or developments
that TherapeuticsMD intends, expects, projects, believes or
anticipates will or may occur in the future. These statements are
often characterized by terminology such as “believes,” “hopes,”
“may,” “anticipates,” “should,” “intends,” “plans,” “will,”
“expects,” “estimates,” “projects,” “positioned,” “strategy” and
similar expressions and are based on assumptions and assessments
made in light of management’s experience and perception of
historical trends, current conditions, expected future developments
and other factors believed to be appropriate. Forward-looking
statements in this press release are made as of the date of this
press release, and the company undertakes no duty to update or
revise any such statements, whether as a result of new information,
future events or otherwise. Forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of the company’s control,
that may cause actual results to differ materially, including the
risks and uncertainties associated with market conditions, the
satisfaction of customary closing conditions related to the
offering, risks and uncertainties associated with TherapeuticsMD’s
business and finances in general and other risks described in the
sections titled “Risk Factors” in TherapeuticsMD’s filings with the
SEC, including its most recent Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, the
preliminary prospectus supplement with respect to the offering and
other filings with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210211005556/en/
Investor Contact Nichol Ochsner Vice President Investor
Relations 561-961-1900 Ext. 2088 nochsner@TherapeuticsMD.com
TherapeuticsMD (NASDAQ:TXMD)
Historical Stock Chart
From Apr 2024 to May 2024
TherapeuticsMD (NASDAQ:TXMD)
Historical Stock Chart
From May 2023 to May 2024