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Revance Announces Pricing of Public Offering of Common Stock

Business Wire Business WireDecember 7,
NEWARK, Calif.--(BUSINESS WIRE)--

Revance Therapeutics, Inc. (RVNC), a biotechnology company developing botulinum toxin products for use in treating aesthetic and therapeutic conditions (“Revance” or the “Company”), today announced the pricing of an underwritten public offering of 5,338,709 shares of its common stock at a price to the public of $31.00 per share. In the offering, the Company will issue and sell 4,838,709 shares and certain stockholders of the Company (the “Selling Stockholders”) will sell 500,000 shares. Revance and the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an aggregate of additional 800,806 shares from the Company and the Selling Stockholders. The gross proceeds to the Company from the offering, excluding any exercise by the underwriters of their 30-day option to purchase additional shares, are expected to be approximately $150 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholders. The offering is expected to close on or about December 11, 2017, subject to customary closing conditions. The Company intends to use the net proceeds received from its offering of common stock for general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments.

Goldman Sachs & Co. LLC and Cowen are acting as book-running managers, Barclays is acting as joint lead manager, and Cantor Fitzgerald & Co., William Blair & Company, L.L.C. and SunTrust Robinson Humphrey are acting as co-managers for the proposed offering.