SOUTH SAN FRANCISCO, Calif.,
Sept. 3, 2019 /PRNewswire/
-- Satsuma Pharmaceuticals, Inc. ("Satsuma"), a clinical-stage
biopharmaceutical company developing STS101 (dihydroergotamine
(DHE) nasal powder) for the acute treatment of migraine, today
announced that it has commenced an underwritten initial public
offering of up to 5,000,000 shares of its common stock. All of the
shares to be sold in the offering will be offered by Satsuma. In
addition, Satsuma expects to grant the underwriters for the
offering a 30-day option to purchase up to an additional 750,000
shares of common stock at the public offering price, less
underwriting discounts and commissions. The offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Satsuma currently expects to use the net proceeds from this
offering to fund its Phase 3 EMERGE efficacy trial for STS101, its
Phase 3 safety trial for STS101, manufacturing activities relating
to STS101, and any remaining amounts to prepare for the commercial
launch of STS101 and for working capital and general corporate
purposes.
Credit Suisse, SVB Leerink and Evercore ISI are acting as joint
book-running managers for the offering.
A registration statement relating to the securities has been
filed with the Securities and Exchange Commission, but has not yet
become effective. These securities may not be sold, nor may
offers be accepted, prior to the time the registration statement
becomes effective. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of, these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification of these securities under the
securities laws of any such state or jurisdiction.
The offering of these securities is being made only by means of
a prospectus, copies of which may be obtained from: Credit Suisse
Securities (USA) LLC, Attention:
Prospectus Department, Eleven Madison Avenue, New York, NY, 10010, by telephone at
1-800-221-1037 or by e-mail: usa.prospectus@credit-suisse.com; SVB
Leerink LLC, Attention: Syndicate Department, One Federal Street,
37th Floor, Boston, MA 02110, by
telephone at 1-800-808-7525, ext. 6132, or by email at
syndicate@svbleerink.com; or Evercore Group L.L.C., Attention:
Equity Capital Markets, 55 East 52nd Street, 36th Floor,
New York, NY 10055, by telephone
at 1-888-474-0200 or by e-mail: ecm.prospectus@evercore.com.
Satsuma has applied to list our common stock on The Nasdaq
Global Market under the symbol "STSA."
Contact:
Investors
Tom O'Neil, Chief Financial
Officer
Satsuma Pharmaceuticals, Inc.
tom@satsumarx.com
Media
Tom O'Neil, Chief Financial
Officer
Satsuma Pharmaceuticals, Inc.
tom@satsumarx.com
View original
content:http://www.prnewswire.com/news-releases/satsuma-pharmaceuticals-inc-announces-proposed-initial-public-offering-of-common-stock-300910485.html
SOURCE Satsuma Pharmaceuticals, Inc.