Trevi Therapeutics prices $55M public offering of common stock and pre-funded warrants

Trevi Therapeutics, Inc.

Offering of 14,252,670 shares at $1.93/share and pre-funded warrants to buy 14,247,330 shares at $1.929 each.
Gross proceeds ~$55M; net proceeds ~$51.4M (or ~$59.1M if underwriters' option exercised).
Net proceeds to fund Haduvio clinical trials for chronic cough (IPF and refractory) into 2026.
Company does not intend to use proceeds for prurigo nodularis program; Phase 2b IPF trial targeted for H1 2023.
Closing expected September 27, 2022; SVB Securities, Stifel, and Oppenheimer as joint bookrunners.

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