FX.co ★ Revance Prices Offering Of 16 Mln Shares At $6.25/Share; Stock Drops

Revance Therapeutics, Inc. announced on Monday that it plans to issue 16 million shares priced at $6.25 each, with an aim to raise $100 million. The company intends to use the financial proceeds to fund the expansion of its aesthetics range, including products like DAXXIFY and the RHA Collection of dermal fillers. The funds will also aid the launching phase of DAXXIFY into the therapeutics market, and provide for working capital. The share offering is projected to conclude around March 6.

Barclays has been appointed as the only manager overseeing the proposed offering. Currently, Revance's shares are experiencing a downturn of 15.04%, dropping to $5.93 from the previous closing rate of $6.98 on the Nasdaq stock market.