AcelRx Prices Stock Issue

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AcelRx has slapped a price tag on its recently announced common stock offering. The company's shares will be sold to the market in an underwritten public flotation at a cost of $11.65 apiece. The firm has also granted its underwriters a 30-day purchase option for up to an additional 570,000 shares.

In a prospectus filed several days ago with the SEC, AcelRx said that it intends to use its share of the estimated gross proceeds of $44.3 million for commercialization and regulatory approval efforts regarding Zalviso. This is a treatment the company says is "designed to solve the problems associated with post-operative intravenous patient-controlled analgesia." It will also utilize the funds as working capital, and for "other corporate purposes."

Leucadia's Jefferies and Piper Jaffray are the joint-book running managers of the issue.


Currently, AcelRx has 37.2 million shares outstanding, and its stock most recently closed at $12.48 per share.

The article AcelRx Prices Stock Issue originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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