AcelRx to Float Stock Issue

AcelRx to Float Stock Issue

AcelRx is going to market for a fresh round of funding. The company announced it will float shares of its common stock in an underwritten public flotation. Additionally, the firm expects to grant the issue's underwriters a 30-day purchase option for up to an additional 15% of the total amount of the shares in the offering.

In a prospectus filed with the SEC, AcelRx revealed that it intends to use the proceeds of the issue 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.

At the moment, AcelRx has 37.2 million shares outstanding, and its stock most recently closed at $11.92 per share.

The article AcelRx to Float Stock Issue originally appeared on

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