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Re: jbog post# 250900

Monday, 03/04/2024 9:57:27 AM

Monday, March 04, 2024 9:57:27 AM

Post# of 252217
RVNC sells 18.4M* shares @$6.25—a 13% discount to Friday’s close:

https://investors.revance.com/investors/Press-Releases/news-details/2024/Revance-Announces-Pricing-of-100.0-Million-Public-Offering-of-Common-Stock/default.aspx

CEO, Mark Foley is buying 30,000 shares via the offering, according to this morning’s SEC filing (https://www.sec.gov/Archives/edgar/data/1479290/000119312524056758/d763500d424b5.htm ).

Net proceeds after underwriting fees will be ~$108M*.

I still think RVNC's 2024 guidance of >=$280M product is a lowball figure that RVNC knows it can beat handily, but based on today's offering the upside to this figure is probably less than what I originally expected.

Will RVNC now decline the third $100M tranche of the Athyrium Capital loan, which has a 3/31/24 deadline for to take the loan? We’ll know soon.

*Assuming exercise of underwriter’s option.

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