NEWPORT BEACH, Calif. - Evolus, Inc. (NASDAQ:EOLS), a performance beauty company, has priced an underwritten public offering of 3,554,000 shares of its common stock at $14.07 each, matching its closing stock price last Friday. The company anticipates gross proceeds of about $50 million, excluding underwriting discounts, commissions, and other offering expenses. Additionally, underwriters have a 30-day option to buy up to 533,100 more shares at the offering price minus underwriting discounts and commissions.
The offering is slated to close around Tuesday, subject to customary conditions. Evolus intends to allocate the net proceeds to support the growth of its flagship neurotoxin product, Jeuveau®, fund the launch of Evolysse™, explore potential business development opportunities, and for general corporate purposes.
Leerink Partners and Stifel are serving as the joint bookrunning managers for the offering, which was made available through a prospectus forming part of Evolus' effective registration statement.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any state or jurisdiction where such an offer, solicitation, or sale would be illegal before registration or qualification under the securities laws of any such state or jurisdiction.
Evolus is known for evolving the aesthetic neurotoxin market with its customer-centric business model and digital platform. The company's goal is to become a global, multi-product aesthetics company, with a focus on Jeuveau® for the beauty consumer market. They are also expanding their portfolio with exclusive distribution agreements for Evolysse™ in the U.S. and Estyme®, a line of dermal fillers, in Europe.
The information in this article is based on a press release statement from Evolus, Inc.
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