CINCINNATI--(BUSINESS WIRE)--Jun. 26, 2018--
Aerpio Pharmaceuticals, Inc. (OTCQB:ARPO) (“Aerpio”) today announced
that its common stock will begin trading on the Nasdaq Capital Market
under the symbol “ARPO” at the opening of trading on June 26, 2018,
following its previously announced approval to list its common stock on
the Nasdaq Capital Market.
Aerpio also announced today the pricing of the previously announced
underwritten public offering of 11,688,000 shares of its common stock at
a price to the public of $3.85 per share. Aerpio has also granted the
underwriters a 30-day option to purchase up to an additional 1,753,200
shares of common stock to cover overallotments, if any. The offering is
expected to close on or about June 28, 2018, subject to customary
Guggenheim Securities is acting as book-running manager for the
offering. Needham & Company is acting as lead manager, and National
Securities Corporation and H.C. Wainwright & Co. are acting as
co-managers for the offering.
Aerpio expects to receive net proceeds of approximately $41.8 million
from the sale of common stock in the offering, after deducting the
underwriting discounts and commissions and estimated offering expenses
payable by it. Aerpio intends to use the net proceeds from the offering
for working capital and general corporate and administrative purposes.
The securities described are being offered by Aerpio pursuant to a shelf
registration statement on Form S-3 (No. 333-223113), including a base
prospectus. The securities will be offered only by means of a
prospectus. A preliminary prospectus supplement and accompanying
prospectus related to the offering were filed with the SEC. A final
prospectus supplement and accompanying prospectus describing the terms
of the offering will be filed with the SEC and will be available on the
SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and accompanying prospectus,
when available, may also be obtained from: Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison, 8th
Floor, New York, NY 10017, or by telephone at (212) 518-9658, or by
email to GSEquityProspectusDelivery@guggenheimpartners.com.
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 jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
About Aerpio Pharmaceuticals
Aerpio Pharmaceuticals, Inc. is a biopharmaceutical company focused on
advancing first-in-class treatments for ocular diseases. The Company’s
lead compound, AKB9778, is a small molecule activator of the Tie2
pathway and is in clinical development for the treatment of
non-proliferative diabetic retinopathy.
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements regarding the completion of
the proposed offering and the use of proceeds from the proposed
offering. All such forward-looking statements are based on management’s
current expectations of future events and are subject to a number of
risks and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties related to
fluctuations in our stock price, changes in market conditions and
satisfaction of customary closing conditions related to the public
offering, as well as the other factors discussed in the “Risk Factors”
section in Aerpio’s most recently filed Annual Report on Form 10-K, as
well as other risks detailed in Aerpio’s subsequent filings with the
Securities and Exchange Commission. There can be no assurance that
Aerpio will be able to complete the proposed public offering on the
anticipated terms. All information in this press release is as of the
date of the release, and Aerpio undertakes no duty to update this
information unless required by law.
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Source: Aerpio Pharmaceuticals, Inc.
Investors & Media:
McClellan, on behalf of Aerpio Pharmaceuticals, Inc.