U.S. Revance Therapeutics to bag $100 mln in underwritten public offering

U.S.-based biotechnology company Revance Therapeutics Inc. will bag approximately $100 million in its proposed underwritten public offering.

Revance, which offered to sell shares of its common stock, also granted the underwriters a 30-day option to acquire up to an additional 15 percent of its common stock.

With the net profits, Revance Therapeutics will enhance its working capital and general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses as well as investments.

On the offering, U.S.-based investment management company Goldman Sachs & Co. LLC, a subsidiary of The Goldman Sachs Group, Inc., peers Cowen and Piper Jaffray are acting as book-runners.