Trevi Therapeutics Announces Successful Pricing of Offering
Trevi Therapeutics, Inc. (NASDAQ: TRVI), a biopharmaceutical company focused on advanced therapies for chronic cough issues, has recently shared the successful pricing of its underwritten public offering. This offering comprises of 17,400,000 shares of common stock, marked at a public offering price of $5.75 per share. Collectively, this initiative is poised to yield approximately $100 million for Trevi excluding necessary underwriting fees and other expenses.
Details of the Offering
The entirety of shares for this offering are being offered by Trevi Therapeutics. Additionally, there's provision for underwriters to buy 2,610,000 additional shares within a 30-day window, aimed at the public offering price minus any underwriting expenses. The anticipated closing date for this offering is projected to be very soon, contingent upon the usual closing conditions.
Role of Financial Institutions
Highly regarded firms including Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald are engaged as joint book-running managers for this offering. Their extensive experience in managing capital market transactions will be pivotal in ensuring a smooth process.
Regulatory Underpinnings for the Offering
This public stock offering is carried out under the auspices of a shelf registration statement that Trevi previously filed with the SEC. The registration statement outlines the conditions under which this offering occurs, ensuring compliance with regulations aimed at protecting investors. It's essential for potential investors to understand the terms detailed in the accompanying prospectus and any supplements thereto.
About Trevi Therapeutics, Inc.
Trevi Therapeutics specializes in developing Haduvio™ (oral nalbuphine ER), an innovative therapeutic approach aimed at alleviating chronic cough caused by idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions. Haduvio acts via the cough reflex arc targeting both central and peripheral pathways, functioning as a kappa agonist and mu antagonist (KAMA). Notably, nalbuphine is not currently classified under stringent control categories by the U.S. Drug Enforcement Agency.
Investor Relations and Media Contacts
For inquiries, investors can reach out to Jonathan Carlson at Trevi Therapeutics at (203) 654 3286, and media inquiries can be directed to Rosalia Scampoli at 914-815-1465. Both individuals play crucial roles in communication and can provide valuable updates and information as required.
Frequently Asked Questions
What is the purpose of Trevi's recent stock offering?
The recent stock offering is aimed at raising funds to support the development of Haduvio™, their investigational therapy for chronic cough.
Who are the managing partners for this offering?
Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald are acting as joint book-running managers for the offering.
How many shares are being offered by Trevi Therapeutics?
A total of 17,400,000 shares are being offered in the public offering.
When is the expected closing date for the offering?
The closing for the offering is expected to take place shortly, subject to standard closing conditions.
What is Haduvio and its significance?
Haduvio is an investigational therapy designed to alleviate chronic cough in IPF and RCC patients, using a unique mechanism to target cough pathways.
