Menlo Therapeutics (MNLO) Prices 27.1M Share Common Stock Offering at $1.85/Each

Menlo Therapeutics Inc. (“Menlo”) (Nasdaq: MNLO), a specialty pharmaceutical company focused on developing and commercializing proprietary therapies to address unmet needs in dermatology, today announced the pricing of an underwritten public offering of 27,050,000 shares of common stock at a price to the public of $1.85 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $50,042,500, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares of common stock to be sold in the offering will be offered by Menlo. In addition, Menlo has granted the underwriters a 30-day option to purchase up to an additional 4,057,500 shares of its common stock. The offering is expected to close on June 9, 2020, subject to customary closing conditions.

Cowen and Piper Sandler & Co. are acting as joint book-runners for the proposed offering. LifeSci Capital LLC is acting as lead manager.

A shelf registration statement relating to these securities was previously filed with the Securities and Exchange Commission (“SEC”) and declared effective on February 12, 2019.

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