Societal CDMO Announces Proposed Public Offering of Common Stock
23 Agosto 2023 - 3:04PM
Societal CDMO, Inc. (“Societal”; NASDAQ: SCTL), a contract
development and manufacturing organization (“CDMO”) dedicated to
solving complex formulation and manufacturing challenges primarily
in small molecule therapeutic development, today announced that it
is commencing an underwritten public offering of shares of its
common stock (or common stock equivalents). All of the shares of
common stock (or common stock equivalents) are being offered by
Societal. The offering is subject to market conditions, and there
can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Craig-Hallum Capital Group LLC is acting as the
sole managing underwriter for the offering.
The securities are being offered pursuant to a
shelf registration statement filed with the Securities and Exchange
Commission (“SEC”) on February 26, 2021, and declared effective by
the SEC on April 20, 2021. The offering of securities will be made
only by means of the prospectus and prospectus supplement that
forms a part of the registration statement. A preliminary
prospectus supplement and accompanying prospectus relating to, and
describing the terms of, the offering, will be filed with the SEC
and will be available on the SEC's website at www.sec.gov. Copies
of the preliminary prospectus supplement and accompanying
prospectus relating to the offering, when available, may also be
obtained by contacting Craig-Hallum Capital Group LLC, Attention:
Equity Capital Markets, 222 South 9th Street, Suite 350,
Minneapolis, Minnesota 55402, by telephone at (612) 334-6300, or by
email at prospectus@chlm.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Societal CDMO
Societal CDMO (Nasdaq: SCTL) is a
bi-coastal contract development and manufacturing organization
(“CDMO”) with capabilities spanning pre-Investigational New Drug
(“IND”) development to commercial manufacturing and packaging for a
wide range of therapeutic dosage forms with a primary focus in the
area of small molecules. With an expertise in solving complex
manufacturing problems, Societal CDMO is a leading CDMO providing
therapeutic development, end-to-end regulatory support, clinical
and commercial manufacturing, aseptic fill/finish, lyophilization,
packaging and logistics services to the global pharmaceutical
market.
In addition to Societal’s experience in handling
DEA controlled substances and developing and manufacturing
modified-release dosage forms, Societal CDMO has the expertise to
deliver on its clients’ pharmaceutical development and
manufacturing projects, regardless of complexity level. Societal
does all of this in its best-in-class facilities, which total
145,000 square feet, in Gainesville, Georgia and San Diego,
California.
Cautionary Statement Regarding Forward
Looking Statements
This press release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements, among other things, relate to the Company’s
expectations regarding the size and terms of the offering, the
timing and completion of the proposed public offering, and other
statements. The words “anticipate”, “believe”, “correlate”,
“could”, “estimate”, “upcoming”, “expect”, “intend”, “may”, “plan”,
“predict”, “project”, “will” and similar terms and phrases may be
used to identify forward-looking statements in this press release.
The Company’s operations involve risks and uncertainties, many of
which are outside its control, and any one of which, or a
combination of which, could materially affect its results of
operations and whether the forward-looking statements ultimately
prove to be correct. Factors that could cause the Company’s actual
outcomes to differ materially from those expressed in or underlying
these forward-looking statements include, but are not limited to,
risks and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed offering, risks and uncertainties associated with demand
for the Company’s services, which depends in part on customers’
research and development and the clinical plans and market success
of their products; customers’ changing inventory requirements and
manufacturing plans; customers and prospective customers decisions
to move forward with the Company’s manufacturing services; the
average profitability, or mix, of the products the Company
manufactures; the Company’s ability to enhance existing or
introduce new services in a timely manner; fluctuations in the
costs, availability, and suitability of the components of the
products the Company manufactures, including active pharmaceutical
ingredients, excipients, purchased components and raw materials, or
the Company’s customers facing increasing or new competition. These
forward-looking statements should be considered together with the
risks and uncertainties that may affect the Company’s business and
future results presented herein along with those risks and
uncertainties discussed in its filings with the Securities and
Exchange Commission at www.sec.gov. These forward-looking
statements are based on information currently available to the
Company, and the Company assumes no obligation to update any
forward-looking statements except as required by applicable
law.
Contacts
Stephanie Diaz (Investors)
Vida Strategic Partners
(415) 675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
(415) 675-7402
tbrons@vidasp.com
Ryan D. Lake (CFO)
Societal CDMO
(770) 531-8365
ryan.lake@societalcdmo.com
Societal CDMO (NASDAQ:SCTL)
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