Trevena, Inc. (NASDAQ: TRVN), a clinical stage pharmaceutical company involved in the discovery and development of G protein coupled receptor (GPCR) biased ligands, today announced that the underwriters for its initial public offering of common stock have partially exercised their over-allotment option and purchased an additional 270,449 shares. The additional shares were sold at the public offering price of $7.00 per share, before underwriting discounts. The closing occurred on March 6, 2014, bringing the total number of shares sold by Trevena in the initial public offering to 9,520,499 shares and total gross proceeds, before deducting underwriting discounts and commissions and offering expenses, to approximately $67 million.
Barclays Capital Inc. and Jefferies LLC acted as joint book-running managers for the offering. Canaccord Genuity Inc., JMP Securities LLC and Needham & Company, LLC acted as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 30, 2014.
The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at Barclaysprospectus@broadridge.com or by phone at 888-603-5847 or Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, by email at Prospectus_Department@Jefferies.com or by phone at 877-547-6340.
This press release shall not constitute an offer to sell or a 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 under the securities laws of any such state or jurisdiction.
Trevena, Inc. is a clinical stage biopharmaceutical company that discovers, develops and intends to commercialize therapeutics that use a novel approach to target G protein coupled receptors, or GPCRs. Using its proprietary product platform, Trevena has identified and advanced three differentiated biased ligand product candidates into the clinic – TRV027 to treat acute heart failure, TRV130 to treat moderate to severe acute pain intravenously, and TRV734 to treat moderate to severe acute and chronic pain orally. Trevena also plans to advance additional product candidates in its portfolio, including a preclinical program focused on central nervous system indications.
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