Latham & Watkins Advises on Travere Therapeutics’ Pricing of Public Offering of Common Stock and Pre-Funded Warrants

Travere Therapeutics, Inc. (Nasdaq: TVTX) has announced the pricing of an underwritten public offering of 8,275,000 shares of its common stock at a price to the public of US$21.00 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 1,250,000 shares of its common stock at a price to the public of US$20.9999 per pre-funded warrant. The exercise price of the pre-funded warrants is US$0.0001 per share. All of the shares and pre-funded warrants are being sold by Travere. The gross proceeds from the offering are expected to be approximately US$200.0 million, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on March 3, 2023, subject to customary closing conditions. In addition, Travere has granted the underwriters for the offering a 30-day option to purchase up to an additional 1,428,750 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 San Diego capital markets team led by partners Cheston Larson and Matt Bush, and counsel Anthony Gostanian, with associate Sterling Swift.