DEVON, Pa., Feb. 09, 2017 (GLOBE NEWSWIRE) — Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), a clinical-stage specialty pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments, today announced that the underwriters of its previously announced public offering of 2.8 million shares of its common stock have exercised in full their option to purchase an additional 420,000 shares of common stock at the public offering price of $18.00 per share, less customary underwriting discounts and commissions. With the exercise of the underwriters’ option, gross proceeds to Zynerba from the offering are expected to be approximately $58 million, before deducting underwriting discounts and commissions and other offering expenses payable by Zynerba. The closing of the option exercise is expected to occur on February 13, 2017, subject to customary closing conditions.
Jefferies LLC and Piper Jaffray Co. acted as joint book-running managers for the offering. Cantor Fitzgerald Co. acted