Valeritas Announces Pricing of $52.5 Million Public Offering of Common Stock

BRIDGEWATER, N.J., March 23, 2017 -- Valeritas Holdings, Inc. (OTCQB:VLRX) today announced the pricing of its underwritten public offering of 5,250,000 shares of its common stock at a public offering price of $10.00 per share. In addition, Valeritas has granted the underwriters a 30-day option to purchase up to an additional 787,500 shares of its common stock at the public offering price.  All of the shares of common stock are being offered by Valeritas.  The shares are expected to begin trading on the Nasdaq Capital Market on March 23, 2017, under the symbol “VLRX.” The offering is expected to close on March 28, 2017, subject to customary closing conditions. Valeritas intends to use the net proceeds from the offering principally to support ongoing sales and marketing activities for V-Go^®, to expand the sales and marketing infrastructure, to fund research, development and engineering activities and manufacturing capabilities, and for working capital and other general corporate purposes. Cowen and Company and Wedbush PacGrow are acting as joint book-running managers for the offering. In addition, Roth Capital Partners and B. Riley & Co. are acting as co-managers.

A registration statement related to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on March 22, 2017.  The offering will be made only by means of a prospectus. Copies of the final prospectus filed with the SEC can be obtained, when available, from Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (631) 274-2806 or by fax at (631) 254-7140.

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

About Valeritas Holdings, Inc.

Valeritas is a commercial-stage medical technology company focused on improving health and simplifying life for people with diabetes by developing and commercializing innovative technologies. Valeritas’ flagship product, V-Go^® Wearable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery device for patients with type 2 diabetes that enables patients to administer a continuous preset basal rate of insulin over 24 hours. It also provides discreet on-demand bolus dosing at mealtimes.  It is the only basal-bolus insulin delivery device on the market today specifically designed keeping in mind the needs of type 2 diabetes patients. Headquartered in Bridgewater, New Jersey, Valeritas operates its R&D functions in Shrewsbury, Massachusetts.

Forward-Looking Statements

This communication contains forward-looking statements that may state Valeritas’ or its management's intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe,” and similar terms.  Although Valeritas believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets. Any forward looking information presented herein is made only as of the date of this press release, and Valeritas does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Investor Contacts:
Nick Laudico / Robert Flamm, Ph.D.
The Ruth Group
(646)536-7030 / 7017
[email protected]

Or

The Del Mar Consulting Group, Inc.
Robert B. Prag, President
858-794-9500
[email protected] 

Media Contact:
Kirsten Thomas
The Ruth Group
(508)280-6592
[email protected]