The offering was upsized by $25 million over the offering amount anticipated to be sold as previously announced. This is in addition to $50 million raised separately through the completion and full utilization of an at-the-market (ATM) program with Cantor Fitzgerald & Co. filed prior to market open on September 15, 2016.
Total gross proceeds raised through these offerings were $125 million. The shares sold through the $50 million ATM program will be issued on or about September 20, 2016, and the $75 million public offering is expected to close on or about September 21, 2016, subject to the satisfaction of customary closing conditions.
Cantor Fitzgerald & Co. is acting as sole bookrunner for the $75 million public offering and sole manager for the $50 million ATM program.
Aerie intends to use the net proceeds of the offerings for general corporate purposes, including the complete funding of Rhopressa commercialization costs, execution of clinical trials in Japan, commencement of construction of a manufacturing plant in Ireland and continuation of preclinical activity in support of its product pipeline, along with ongoing working capital requirements.
Shelf registration statements relating to the shares are effective with the Securities and Exchange Commission. The shares in each offering may be offered only by means of a prospectus, including a prospectus supplement, forming a part of each effective registration statement.
A prospectus supplement relating to the $50 million ATM program and a preliminary prospectus supplement relating to the $75 million public offering were filed with the Securities and Exchange Commission on September 15, 2016. Electronic copies of the preliminary prospectus supplement, the prospectus supplement and the accompanying prospectuses relating to the offerings are available on the website of the Securities and Exchange Commission at www.sec.gov.