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Re: DewDiligence post# 1668

Saturday, 02/27/2021 4:22:27 PM

Saturday, February 27, 2021 4:22:27 PM

Post# of 9090
RVNC 12/31/20_pro_forma fully-diluted* shares=88.1M.

The above figure consists of: 69.2 basic shares on the 12/31/20 balance sheet (https://www.sec.gov/ix?doc=/Archives/edgar/data/1479290/000147929021000057/rvnc-20201231.htm#i6f0aa917a5824dbabeb1a57e476dac1a_190 ); 0.7M (3.3M minus 2.6M) shares sold under the ATM facility with Cowen since 12/31/20 (ibid, page F-38); 9.3M options and unvested restricted stock as of 12/31/20 (ibid, page F-18); and 8.9M shares deriving from the convertible debt issued in Feb 2020 (ignoring hedging transactions associated with the convertible debt).

Excluding the shares derived from the convertible debt, the number of pro forma fully-diluted shares at 12/31/20 was 79.2M.

*Non-treasury method.

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