Revance Therapeutics’ $287.5 Million Convertible Senior Notes Offering

Davis Polk advised the initial purchasers in connection with a Rule 144A offering by Revance Therapeutics, Inc.

Revance Therapeutics, Inc. executed the pricing of $250.0 million aggregate principal amount of 1.75% convertible senior notes due 2027 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The size of the offering was increased from the previously announced $200.0 million. Revance also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $37.5 million principal amount of notes.

Goldman Sachs & Co. LLC, Barclays Capital Inc., Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated, William Blair & Company, L.L.C., and Needham & Company, LLC acted as underwriters for the offering.

Based in Newark, California, Revance Therapeutics is a specialty biopharmaceutical company developing neuromodulators for use in aesthetic and therapeutic indications.

The Davis Polk corporate team included partners Alan F. Denenberg (Picture) and Emily Roberts and associates Beth LeBow and Kimberly Wang. The equity derivatives team included partner John M. Brandow, counsel Justin Michael and associate Joseph Luizzi. The tax team included partner Lucy W. Farr and associate Adam R. Brownstone. Partner Pritesh P. Shah provided intellectual property and technology advice.

Involved fees earner: John Brandow – Davis Polk & Wardwell; Adam Brownstone – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Beth LeBow – Davis Polk & Wardwell; Joseph Luizzi – Davis Polk & Wardwell; Justin Michael – Davis Polk & Wardwell; Emily Roberts – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Kimberly Wang – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; Goldman Sachs & Co.; Needham & Company; Piper Sandler; Stifel, Nicolaus & Company, Incorporated; William Blair & Company, L.L.C.;

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Author: Ambrogio Visconti