Recro Announces Proposed 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, yesterday 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.

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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.

The proposed offering will be 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 will be filed with the Securities and Exchange Commission (the “SEC”) and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary 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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The 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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