ANN ARBOR, MI--(Marketwired - March 18, 2015) - Esperion Therapeutics, Inc. (ESPR), an emerging pharmaceutical company focused on developing and commercializing first-in-class, oral low-density lipoprotein cholesterol (LDL-cholesterol) lowering therapies for the treatment of hypercholesterolemia and other cardiometabolic risk markers, today announced the pricing of an underwritten public offering of 1,750,000 shares of its common stock, offered at a price to the public of $100.00 per share. The gross proceeds from this offering to Esperion are expected to be $175 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Esperion. Esperion has granted the underwriters a 30-day option to purchase up to an additional 262,500 shares of its common stock. The offering is expected to close on or about March 24, 2015, subject to customary closing conditions. Esperion intends to use the net proceeds from the offering, as well as its other existing capital resources, to complete the clinical development of ETC-1002, including development of a fixed-dose combination of ETC-1002 and ezetimibe for statin intolerant patients, pre-commercial launch activities for ETC-1002 in the statin intolerant patient population, the initiation of a cardiovascular outcomes trial for high-risk patients who have had a cardiovascular event, working capital, and for general corporate and administrative expenses.
Credit Suisse Securities (USA) LLC is acting as lead book-running manager for the proposed offering, with RBC Capital Markets, LLC and UBS Securities LLC acting as joint book-running managers, JMP Securities LLC acting as lead manager, and Stifel, Nicolaus & Company, Incorporated and Needham & Company, LLC acting as co-managers.
The securities described above are being offered by Esperion pursuant to a shelf registration statement on Form S-3 (No. 333-201198) including a base prospectus. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement related to the offering was filed with the SEC on March 17, 2015 and a final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered, when available, may also be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by calling toll-free (800) 221-1037, or by emailing newyork.prospectus@credit-suisse.com; RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; phone: (877) 822-4089; email: equityprospectus@rbccm.com; or UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, or by calling toll-free at (888) 827-7275.