BOCA RATON, Fla.–(BUSINESS WIRE)–TherapeuticsMD, Inc. (NYSE MKT: TXMD) today announced the closing of its
previously announced underwritten public offering of approximately 17.4
million shares of its common stock, which included shares sold pursuant
to the underwriters’ option to purchase up to an additional 15% of the
shares of common stock initially offered, which option was exercised in
full. The shares were offered to the public at a price of $8.25 per
share, before underwriting discounts and commissions. At closing,
TherapeuticsMD received gross proceeds from the offering of
approximately $144 million, before deducting underwriting discounts and
commissions and other offering expenses. All of the shares in the
offering were sold by TherapeuticsMD.
TherapeuticsMD plans to use a majority of the proceeds of the offering
to fund commercialization activities for TX-004HR, its applicator-free
vaginal estradiol softgel drug candidate, for other research, clinical
trials, clinical formulation and development and for working capital and
general corporate purposes.
Goldman, Sachs & Co. and Cowen and Company are acting as joint
bookrunning managers for the offering. Stifel and Guggenheim Securities
are acting as joint lead managers for the offering.
TherapeuticsMD has filed a shelf registration statement on Form S-3,
including a prospectus supplement and accompanying prospectus, with the
Securities and Exchange Commission (the “SEC”), relating to the public
offering of the shares of common stock described above. These documents
contain important information that you should consider when making your
investment decision. TherapeuticsMD’s SEC filings are available to the
public from the SEC’s website at www.sec.gov.
Copies of the prospectus supplement and the accompanying prospectus
relating to these securities may also be obtained by contacting Goldman,
Sachs & Co., Prospectus Department, 200 West Street, New York, NY
10282-2198, by calling (866) 471-2526 or by emailing firstname.lastname@example.org;
or Cowen and Company, LLC at c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or
by phone (631) 274-2806 / Fax (631) 254-7140.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative healthcare company focused on
developing and commercializing products exclusively for women. With its
SYMBODA™ technology, TherapeuticsMD is developing advanced hormone
therapy pharmaceutical products to enable delivery of bio-identical
hormones through a variety of dosage forms and administration routes.
The company’s clinical development pipeline includes two phase 3
products. The company also manufactures and distributes branded and
generic prescription prenatal vitamins as well as over-the-counter
vitamins under the vitaMedMD® and BocaGreenMD® brands.
Forward Looking Statements
This press release by TherapeuticsMD, Inc. may contain
forward-looking statements. Forward-looking statements may include, but
are not limited to, statements relating to TherapeuticsMD’s objectives,
plans and strategies as well as statements, other than historical facts,
that address activities, events or developments that TherapeuticsMD
intends, expects, projects, believes or anticipates will or may occur in
the future. These statements are often characterized by terminology such
as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,”
“plans,” “will,” “expects,” “estimates,” “projects,” “positioned,”
“strategy” and similar expressions and are based on assumptions and
assessments made in light of management’s experience and perception of
historical trends, current conditions, expected future developments and
other factors believed to be appropriate. Forward-looking statements in
this press release are made as of the date of this press release, and
TherapeuticsMD undertakes no duty to update or revise any such
statements, whether as a result of new information, future events or
otherwise. Forward-looking statements are not guarantees of future
performance and are subject to risks and uncertainties, many of which
are outside of TherapeuticsMD’s control. These forward-looking
statements are subject to risks and uncertainties that may cause actual
results to differ materially, including the risks and uncertainties
associated with market conditions, risks and uncertainties associated
with TherapeuticsMD’s business and finances in general and other risks
described in the sections titled “Risk Factors” in TherapeuticsMD’s
filings with the SEC, including its most recent Annual Report on Form
10-K and other filings with the SEC.
Daniel A. Cartwright, 561-961-1900