Aquestive Therapeutics Announces Pricing of $75 Million Underwritten Public Offering of Common Stock
WARREN, N.J., March 19, 2024 (GLOBE NEWSWIRE) — Aquestive Therapeutics, Inc. (NASDAQ:AQST) (“Aquestive” or the “Company”), a pharmaceutical company advancing medicines to bring meaningful improvement to patients’ lives through innovative science and delivery technologies, today announced the pricing of an underwritten public offering of 16,666,667 shares of its common stock at a public offering price of $4.50 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 approximately $75.0 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 development and commercialization of its product pipeline, including Anaphylm™ (epinephrine) Sublingual Film for the treatment of severe life-threatening allergic reactions, including anaphylaxis, and Libervant™ (diazepam) Buccal Film for the treatment of seizure clusters in epilepsy patients aged two to five, and for working capital, capital expenditures and general corporate purposes. In addition, Aquestive has granted the underwriters a 30-day option to purchase up to an additional 2,500,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the securities are to be sold by the Company. The offering is expected to close on or about March 22, 2024, subject to satisfaction of customary closing conditions.