Verrica Announces Pricing of $32.5 Million Underwritten Offering of Common Stock and Pre-Funded Warrants

Verrica Pharmaceuticals Inc

WEST CHESTER, PA — Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) recently announced the pricing of its underwritten offering of 750,000 shares of its common stock and pre-funded warrants to purchase 4,064,814 shares of common stock. The shares of common stock are being sold at a price of $6.75 per share and the pre-funded warrants are being sold at a price of $6.7499 per share.  The offering is being substantially led by one healthcare dedicated fund. The gross proceeds from the offering to Verrica are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on or about February 23, 2023, subject to customary closing conditions.

Jefferies LLC is acting as the sole book-runner for the offering.

A shelf registration statement relating to the shares of common stock and pre-funded warrants offered in the offering described above was filed with the Securities and Exchange Commission (SEC) on November 7, 2022, and declared effective by the SEC on December 19, 2022.  The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.  A final prospectus supplement and accompanying prospectus will be filed with the SEC.  When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 877-547-6340 or by email at [email protected]

The Company has declared that its announcement shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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