AcelRx Pharma Prices Public Offering Of 3.8 Mln Shares At $11.65/shr

(RTTNews) - AcelRx Pharmaceuticals Inc. (ACRX) announced the pricing of its underwritten public offering of 3.8 million shares of its common stock, offered at a price of $11.65 per share to the public.

AcelRx said it expects that the gross proceeds from this offering to be about $44.27 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by AcelRx. All of the shares in the offering are to be sold by AcelRx.

The offering is expected to close on or about July 23, 2013, subject to the satisfaction of customary closing conditions.

AcelRx noted that it has granted the underwriters a 30-day option to purchase up to an aggregate of 570,000 additional shares of common stock offered in the public offering.