Trevena Announces Closing of Public Offering and Partial Exercise of Underwriters’ Option to Purchase Additional Shares

KING OF PRUSSIA, Pa.--(BUSINESS WIRE)-- Trevena, Inc. (NASDAQ: TRVN), a clinical stage biopharmaceutical company focused on the discovery and development of G protein coupled receptor (GPCR) biased ligands, today announced the closing of its underwritten public offering of 11,250,000 shares of common stock at a price to the public of $4.00 per share. In addition, the Company announced today that it closed the sale of an additional 1,598,000 shares of common stock pursuant to the partial exercise of the option to purchase additional shares by the underwriters of the public offering. With this exercise, the Company has sold 12,848,000 shares in this offering, representing net proceeds of approximately $47.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Trevena.

Barclays Capital Inc., Cowen and Company, LLC and Jefferies LLC acted as joint book-running managers for the offering. JMP Securities LLC and Needham & Company, LLC acted as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 4, 2014.

The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at Barclaysprospectus@broadridge.com or by phone at 888-603-5847, from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-280 or from Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by email at Prospectus_Department@Jefferies.com or by phone at 877-547-6340.

This press release shall not constitute an offer to sell or a 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.

Investor Contacts:
Trevena, Inc.
Jonathan Violin
Director of investor relations
610-354-8840 x231
jviolin@trevenainc.com
or
Argot Partners
Andrea Rabney
President and chief executive officer
212-600-1902
andrea@argotpartners.com

Source: Trevena, Inc.

Released December 10, 2014