Recro Announces Pricing of $30.0 Million Public Offering of Common Stock

Recro Pharma

EXTON, PA — 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, announced the recent pricing of its public offering of 13,333,333 shares of its common stock at a price to the public of $2.25 per share.

Gross proceeds, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $30.0 million. In addition, Recro has granted the underwriters a 30-day option to purchase up to 1,999,999 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about May 14, 2021, subject to satisfaction of customary closing conditions.

Recro intends to use the net proceeds from the 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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William Blair & Company, L.L.C. is acting as sole book-running manager for the offering and Craig-Hallum Capital Group is acting as co-manager for the offering.

The public offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-229734) that became effective on March 21, 2019. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering has been filed with the Securities and Exchange Commission and is available on the SEC’s website at When available, copies of the final prospectus supplement and accompanying prospectus may also be obtained for free from the offices of William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, via telephone at (800) 621-0687 or via email at [email protected].

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This Company’s announcement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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