AcelRx Pharmaceuticals Announces Pricing of Public Offering of Common Stock

 AcelRx Pharmaceuticals Announces Pricing of Public Offering of Common Stock

PR Newswire

REDWOOD CITY, Calif., July 18, 2013

REDWOOD CITY, Calif., July 18, 2013 /PRNewswire/ -- AcelRx Pharmaceuticals,
Inc. (Nasdaq: ACRX) today announced the pricing of its previously announced
underwritten public offering of3.8 millionshares of its common stock,
offered at a price of $11.65 per share to the public. The gross proceeds to
AcelRx from this offering are expected to be approximately $44.27 million,
before deducting underwriting discounts and commissions, and other estimated
offering expenses payable by AcelRx. All of the shares in the offering are to
be sold by AcelRx. The offering is expected to close on or about July 23,
2013, subject to the satisfaction of customary closing conditions. AcelRx has
granted the underwriters a 30-day option to purchase up to an aggregate
of570,000 additional shares of common stock offered in the public offering.

Jefferies LLC and Piper Jaffray & Co. acted as joint book-running managers for
the offering, and Guggenheim Securities acted as co-manager for the
offering.

A shelf registration statement on Form S-3 relating to the public offering of
the shares of common stock described above was filed with the Securities and
Exchange Commission (the "SEC") and is effective. A preliminary prospectus
supplement relating to the offering has been filed with the SEC and a final
prospectus supplement relating to the offering will be filed with the SEC and
will be available on the SEC's web site at www.sec.gov. When available, copies
of the final prospectus supplement and the accompanying prospectus may also be
obtained from Jefferies LLC, Equity Syndicate Prospectus Department, at 520
Madison Avenue, New York, New York, 10022, or by calling (877) 547-6340, or by
emailing prospectus_Department@Jefferies.com, or from Piper Jaffray & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402 or by calling (800)747-3924, or by emailing 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 AcelRx Pharmaceuticals, Inc.

AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on
the development and commercialization of innovative therapies for the
treatment of acute and breakthrough pain. 

Forward-Looking Information is Subject to Risk and Uncertainty

Certain of the statements made in this press release are forward looking, such
as those, among others, relating to AcelRx's expectations regarding the
completion of the 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 market and other conditions,
the satisfaction of customary closing conditions related to the public
offering and the impact of general economic, industry or political conditions
in the United States or internationally. There can be no assurance that AcelRx
will be able to complete the public offering on the anticipated terms, or at
all. AcelRx will need to raise additional capital to fund its operations and
may be unable to raise capital when needed, which would force AcelRx 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 AcelRx and its business can be found under
the heading "Risk Factors" in the preliminary prospectus supplement related to
the offering filed with the SEC on July 17, 2013. AcelRx 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.

(Logo: http://photos.prnewswire.com/prnh/20130226/MM67303LOGO)

SOURCE AcelRx Pharmaceuticals, Inc.

Website: http://www.acelrx.com
Contact: Jim Welch, Chief Financial Officer, 650.216.3511, jwelch@acelrx.com
 
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