Dechert recently advised Aquestive Therapeutics on the pricing of an underwritten offering of 21,250,000 shares of its common stock at an offering price of $4.00 per share. The gross proceeds of the offering to Aquestive, before deducting the underwriting discounts and commissions and other offering expenses payable by Aquestive, are expected to be $85 million.
The company intends to use the net proceeds received from the offering, together with the company’s existing cash and cash equivalents, primarily to advance the launch and commercialization of Anaphylm (epinephrine) Sublingual Film for the treatment of severe life-threatening allergic reactions, including anaphylaxis, assuming United States Food and Drug Administration (FDA) approval, and for working capital, capital expenditures and general corporate purposes. All of the securities are to be sold by the company.
The Dechert team advising Aquestive was led by corporate and life sciences partner David S. Rosenthal, corporate partner Anna Tomczyk and associates Nicholas Chionchio, Rebecca Pan, Sara Allen and Beyond Bi.
