Flexion Therapeutics, Inc. has announced the pricing of an underwritten public offering of 9,230,770 shares of its common stock at a price to the public of US$9.75 per share. The gross proceeds from this offering are expected to be approximately US$90 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Flexion. The offering is expected to close on or about May 26, 2020, subject to customary closing conditions. Flexion has also granted the underwriters a 30-day option to purchase up to 1,384,615 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions.
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partner Nathan Ajiashvili, with associates Sami Ghneim, Thomas Gabay, and Daniel Grill.