initial public offerings (IPOs) trading on American exchanges

Saturday, May 24, 2014

Agile Therapeutics (AGRX) began trading on the NASDAQ on 23 May 2014

Agile Therapeutics Inc., a women's health specialty pharmaceutical company focused on the development and commercialization of new prescription contraceptive products, announced the pricing of its initial public offering of 9.17 million shares of its common stock at a public offering price of $6.00 per share. According to recent regulatory filings, the company planned to offer 4.62 million shares in the range of $12.00 and $14.00 per share.

Agile Therapeutics has granted the underwriters a 30-day option to purchase up to an aggregate of 1.38 million additional shares of common stock at the initial public offering price to cover any over-allotments.

The shares are expected to begin trading on the NASDAQ Global Market, beginning on May 23, 2014, under the symbol "AGRX." The offering is expected to close on May 29, 2014, subject to customary closing conditions.

The company estimates that the net proceeds to the company from this offering, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by it, will be approximately $49.2 million, assuming the shares are offered at $6.00 per share.

The company anticipates that the majority of the net proceeds from this offering will be used for costs associated with the commencement and completion of an additional Phase 3 trial for Twirla. The remaining proceeds will be used for completion of the Corium equipment validation, development of our product pipeline, and for working capital and general corporate purposes which may include scheduled payments of principal and interest on its outstanding loan.

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