Trevi Therapeutics Prices $100 Mln Public Offering Of Common Stock

(RTTNews) - Trevi Therapeutics, Inc. (TRVI), a clinical-stage biopharmaceutical company focused on developing Haduvio - oral nalbuphine ER for chronic cough in idiopathic pulmonary fibrosis - IPF and refractory chronic cough - RCC patients, announced the pricing of its previously disclosed underwritten public offering of 17.4 million common shares at $5.75 per share.

The offering is expected to generate gross proceeds of approximately $100 million before underwriting discounts, commissions, and expenses. All shares are being sold by Trevi.

Additionally, Trevi granted underwriters a 30-day option to purchase up to 2.61 million additional shares at the same price, less discounts and commissions. The offering is anticipated to close on or around June 5, 2025, subject to customary closing conditions.

Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald are serving as joint book-running managers for the offering.

The shares are offered under a shelf registration statement filed with and declared effective by the SEC in August 2023. The offering is made only through a prospectus supplement and accompanying prospectus filed with the SEC. The final terms will be disclosed in a forthcoming final prospectus supplement. Copies of the offering documents will be available from the managing underwriters.

This announcement is not an offer to sell or solicitation to buy securities in jurisdictions where such actions are unlawful without proper registration or qualification.

Trevi Therapeutics detailed the terms of the offering, including the share count, pricing, and underwriters involved. The company emphasized that the offering is subject to standard closing conditions and is conducted under SEC registration. The offering aims to raise capital to support its clinical development efforts for Haduvio. The underwriters include Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald.

Wednesday, TRVI closed at $6.58, up 10.59%, and traded after hours at $6.51, down 1.06% on the Nasdaq Global Market.