Cempra Prices ~4.166M Share Offering @$24.00/Share

Cempra, Inc. CEMP announced Wednesday, that it has priced an underwritten public offering of 4,166,667 shares of its common stock at a price of $24.00 per share for aggregate gross proceeds of approximately $100 million. Net proceeds after underwriting discounts and commissions and expenses of the offering are expected to be approximately $93.7 million. The company also has granted the underwriters a 30-day option to purchase up to an additional 625,000 shares, which would result in additional net proceeds of approximately $14.1 million, if exercised in full. The company intends to use the net proceeds from the offering to fund the commercial launch of solithromycin in community acquired bacterial pneumonia (CABP) in the U.S., subject to the drug receiving FDA approval for such an indication, research and development activities, including the continued clinical and regulatory development of solithromycin in CABP and gonorrhea and Taksta in acute bacterial skin and skin structure infections (ABSSSI) and also for the chronic oral treatment of refractory infections in bones and See full press release