Recro Pharma (REPH) Announces Proposed Public Offering of Common Stock

Recro Pharma, Inc. (NASDAQ: REPH), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges for companies developing oral solid dose drug products, today announced that it intends to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. All of the shares to be sold in the public offering will be sold by Recro. Recro is expected to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock being offered at the public offering price, less underwriting discounts and commissions. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

William Blair & Company, L.L.C. is acting as sole book-running manager for the offering.

Recro intends to use the net proceeds from the proposed offering for general corporate purposes, which may include repayment of a portion of outstanding debt and future acquisitions. Recro does not have immediate arrangements, commitments or understandings regarding any future acquisitions.

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