SOURCE: Esperion Therapeutics, Inc.

Esperion Therapeutics, Inc.

March 24, 2015 16:05 ET

Esperion Therapeutics Announces Closing of Follow-On Public Offering and Exercise in Full of Underwriters' Option to Purchase Additional Shares of Common Stock

ANN ARBOR, MI--(Marketwired - March 24, 2015) - Esperion Therapeutics, Inc. (NASDAQ: ESPR), an emerging pharmaceutical company focused on developing and commercializing first-in-class, oral low-density lipoprotein cholesterol (LDL-cholesterol) lowering therapies for the treatment of hypercholesterolemia and other cardiometabolic risk markers, today announced the closing of its follow-on public offering of 2,012,500 shares of common stock, offered at a price to the public of $100.00 per share, which includes the exercise in full by the underwriters of their option to purchase 262,500 additional shares of common stock. This exercise brings the net proceeds in the offering to $189.9 million, after deducting underwriting discounts and commissions and estimated expenses payable by Esperion. Esperion intends to use the net proceeds from the offering, as well as its other existing capital resources, to complete the clinical development of ETC-1002, including development of a fixed-dose combination of ETC-1002 and ezetimibe for statin intolerant patients, pre-commercial launch activities for ETC-1002 in the statin intolerant patient population, the initiation of a cardiovascular outcomes trial for high-risk patients who have had a cardiovascular event, working capital, and for general corporate and administrative expenses.

Credit Suisse Securities (USA) LLC acted as lead book-running manager for the offering, RBC Capital Markets, LLC and UBS Securities LLC acted as joint book-running managers, JMP Securities LLC acted as lead manager, and Stifel, Nicolaus & Company, Incorporated and Needham & Company, LLC acted as co-managers.

The securities described above were offered by Esperion pursuant to a shelf registration statement on Form S-3 (Nos. 333-201198 and 333-202859) including a base prospectus. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement related to the offering was filed with the SEC on March 17, 2015 and a final prospectus supplement related to the offering was filed with the SEC on March 19, 2015 and is available on the SEC's website located at Copies of the final prospectus supplement and the accompanying prospectus relating to the securities offered, when available, may also be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by calling toll-free (800) 221-1037, or by emailing; RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; phone: (877) 822-4089; email:; or UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, or by calling toll-free at (888) 827-7275.

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Esperion Therapeutics
Esperion Therapeutics, Inc. is an emerging pharmaceutical company focused on developing and commercializing first-in-class, oral, LDL-cholesterol lowering therapies for the treatment of patients with hypercholesterolemia and other cardiometabolic risk markers.

Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding the therapeutic potential of, and clinical development plan for, ETC-1002 and statements pertaining to our expectations regarding the anticipated proceeds of the proposed public offering. These statements are based on management's current expectations and accordingly are subject to uncertainty and changes in circumstances. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause Esperion's actual results to differ significantly from those projected, including, without limitation, the risk that positive results from a clinical study of ETC-1002 may not necessarily be predictive of the results of future clinical studies, particularly in different or larger patient populations, or the risk that other unanticipated developments could interfere with the development (and commercialization) of ETC-1002, as well as other risks detailed in Esperion's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Esperion disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law.

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