U.S. Aquestive Therapeutics raises around $73.9 mln in public offering

Aquestive Therapeutics, a U.S.-based specialty pharmaceutical company, has announced the underwriters of its previously announced initial public offering of common stock have partially exercised their over-allotment option to purchase additional shares.

The underwriters purchased an additional 425,727 shares at the public offering price of $15.00 per share, resulting in additional gross proceeds of approximately $6.4 million before deducting underwriting discounts and commissions and estimated offering expenses.

After giving effect to the sale of these additional shares, the total number of shares sold by Aquestive in the initial public offering increased to 4.9 million shares and gross proceeds were estimated to be approximately $73.9 million.

Canadian financial services firms BMO Capital and RBC Capital acted as joint book-running managers for the offering.