AcelRx Pharmaceuticals Inc Announces Exercise of Option to Purchase Additional Shares

AcelRx Pharmaceuticals Inc announced that the underwriters of its public offering have exercised, in full, their option to purchase an additional 1,875,000 shares of common stock at a public offering price of $3.31 per share. This option to purchase additional shares was granted to the underwriters in connection with AcelRx's previously announced underwritten public offering of 12,500,000 shares of its common stock, which was closed on December 12, 2012. The sale of option shares was closed on December 14, 2012. With the exercise of this option, the total gross proceeds of the public offering increased to approximately $47.6 million with estimated net proceeds to AcelRx of $44.2 million after deducting underwriting discounts and estimated expenses. Jefferies & Company, Inc. and Cowen and Company, LLC acted as joint book-running managers for the offering, with Canaccord Genuity Inc. acting as co-lead manager.