Revance Announces Pricing of Public Offering of Common Stock
Revance Therapeutics, Inc. (Nasdaq:RVNC), a biotechnology company developing next-generation neuromodulators for use in treating
aesthetic and therapeutic conditions (“Revance” or the “Company”), today announced the pricing of an underwritten public offering
of 5,882,353 shares of its common stock at a price to the public of $17.00 per share. Revance has granted the underwriters a 30-day
option to purchase up to an aggregate of additional 882,352 shares from the Company. The gross proceeds to the Company from the
offering, excluding any exercise by the underwriters of their 30-day option to purchase additional shares, are expected to be
approximately $100 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by
the Company. The offering is expected to close on or about January 22, 2019, subject to customary closing conditions. The Company
intends to use the net proceeds received from its offering of common stock for working capital and general corporate purposes,
including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital
investments.
Goldman Sachs & Co. LLC, Cowen and Piper Jaffray are acting as book-running managers and Guggenheim Securities is acting as
lead manager.
The securities described above are being offered by Revance pursuant to an automatic shelf registration statement previously
filed with the Securities and Exchange Commission on December 5, 2017. The offering will be made only by means of a prospectus
supplement. When available, copies of the prospectus supplement and accompanying prospectus relating to the proposed public
offering may be obtained by contacting Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; Cowen and Company, LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, or by emailing PostSaleManualRequests@broadridge.com; or Piper Jaffray & Co., Attn:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924, or by email at prospectus@pjc.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities 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.
About Revance Therapeutics, Inc.
Revance is a clinical-stage biotechnology company focused on the development, manufacturing, and commercialization of novel
neuromodulators for multiple aesthetic and therapeutic indications. Revance is leveraging its proprietary portfolio of botulinum
toxin type A compounds, formulated with its patented and proprietary peptide excipient technology, to address unmet needs in large
and growing neuromodulator markets.
"Revance Therapeutics" and the Revance logo are registered trademarks of Revance Therapeutics, Inc.
Forward-Looking Statements
Certain of the statements made in this press release are forward looking, such as those, among others, relating to Revance's
expectations regarding the completion of the proposed public offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not Revance will be able to raise capital through the sale of shares of
common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing
conditions related to the proposed public offering and the impact of general economic, industry or political conditions in the
United States or internationally. There can be no assurance that Revance will be able to complete the proposed public offering on
the anticipated terms, or at all. Revance will need to raise additional capital to fund its operations and may be unable to raise
capital when needed, which would force Revance to delay, reduce or eliminate its product development programs or commercialization
efforts. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press
release. Additional risks and uncertainties relating to the proposed offering, Revance and its business can be found under the
heading "Risk Factors" in the prospectus supplement (and documents incorporated by reference therein) related to the proposed
public offering filed with the Securities and Exchange Commission. Revance expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its
expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are
based.
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INVESTORS
Revance Therapeutics, Inc.:
Jeanie Herbert, 714-325-3584
jherbert@revance.com
or
Burns McClellan, Inc.:
John Grimaldi, 212-213-0006
jgrimaldi@burnsmc.com
or
MEDIA
General Media:
TOGORUN:
Mariann Caprino, 917-242-1087
m.caprino@togorun.com
or
Trade Media:
Nadine Tosk, 504-453-8344
nadinepr@gmail.com
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