On December 10, 2020 AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX) (AcelRx), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in healthcare institutions, reported it has entered into an agreement with three life sciences-focused investment funds that are existing investors and new investors in AcelRx, for the sale of 8,333,333 shares of common stock at $1.20 per share (Press release, AcelRx Pharmaceuticals, DEC 10, 2020, https://www.prnewswire.com/news-releases/acelrx-announces-10-million-registered-direct-common-stock-offering-301190326.html [SID1234572633]). AcelRx estimates gross proceeds from the offering of approximately $10.0 million. The closing of the transaction is expected to occur by December 11, 2020, subject to satisfaction of customary closing conditions.

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The securities described above are being offered by AcelRx pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on July 8, 2020. A final prospectus supplement related to the offering will be filed with the SEC, and will be available on the SEC’s website located at View Source

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.