Trevi Therapeutics, Inc. (NASDAQ:TRVI) today announced the pricing of its underwritten public offering of 14,252,670 shares of its common stock at a public offering price of $1.93 per share, and, to certain investors in lieu of common stock, pre-funded warrants to purchase 14,247,330 shares of common stock at a price of $1.929 per pre-funded warrant, for total proceeds of approximately $55 million, before deducting underwriting discounts and commissions and expenses payable by Trevi. The purchase price per share of each pre-funded warrant represents the per share public offering price for the common stock, minus the $0.001 per share exercise price of such pre-funded warrant. All of the shares and pre-funded warrants in the offering are being sold by Trevi. In addition, Trevi has granted the underwriters a 30-day option to purchase up to 4,275,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 27, 2022, subject to satisfaction of customary closing conditions.
SVB Securities, Stifel and Oppenheimer & Co. are acting as joint bookrunning managers for the offering. Needham & Company is acting as lead manager for the offering and Aegis Capital Corp. is acting as co-manager for the offering.
