TFF Pharmaceuticals Prices $22 Million Public Offering of Common Stock

AUSTIN, Texas--(BUSINESS WIRE)-- TFF Pharmaceuticals, Inc. (Nasdaq: TFFP), an early-stage biopharmaceutical company focused on developing and commercializing innovative drug products based on its patented Thin Film Freezing, or TFF, technology platform, today announced the pricing of its initial public offering of 4,400,000 shares of its common stock at a public offering price of $5.00 per share. All of the shares are being offered by TFF Pharmaceuticals. In addition, TFF Pharmaceuticals has granted the underwriter a 45-day option to purchase an additional 660,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by TFF Pharmaceuticals, are expected to be approximately $22 million, excluding any proceeds from the exercise of the underwriter’s option to purchase additional shares. The Company intends to use the net proceeds from the offering to advance the development of its initial two drug candidates (TFF Vori and TFF Tac-Lac), continue to expand TFF’s product pipeline, and for general working capital.

TFF Pharmaceuticals’ common stock has been approved for listing on the Nasdaq Capital Market and is expected to begin trading under the ticker symbol “TFFP” on October 25, 2019. The proposed offering is expected to close on October 29, 2019, subject to customary closing conditions.

National Securities Corporation, a wholly-owned subsidiary of National Holdings, Inc. (NASDAQ: NHLD), is acting as the sole underwriter for the offering. The Liquid Venture Partners group at National Securities Corporation was responsible for sourcing and executing the offering.

The Securities and Exchange Commission declared a registration statement relating to these securities effective on October 24, 2019. Interested parties may obtain copies of the final prospectus relating to this offering from:

National Securities Corporation
200 Vesey Street, 25th Floor
New York, NY 10281
Attn: Marguerite O’Brien
Telephone: (212) 417-8164
Email: prospectusrequest@nationalsecurities.com

This press release shall not constitute an offer to sell or the 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 the registration or qualification under the securities laws of such state or jurisdiction.

About TFF Pharmaceuticals, Inc.

TFF Pharmaceuticals, Inc. is an early-stage biopharmaceutical company focused on developing and commercializing innovative drug products based on its patented Thin Film Freezing, or TFF, technology platform. The Company believes, and early testing confirms, that the TFF platform can significantly improve the solubility of poorly water-soluble drugs, a class of drugs that makes up approximately 33% of the major pharmaceuticals worldwide, thereby improving their pharmacokinetics and potentially reducing adverse side effects. TFF Pharmaceuticals has two lead drug candidates, one of which treats a severe fungal pulmonary disease, and the other of which is part of the treatment for lung transplants. The Company plans to add to this pipeline by collaborating with large pharmaceutical partners. The TFF Platform is protected by 36 patents issued or pending in the US and internationally.

SAFE HARBOR

This press release contains forward-looking statements regarding TFF Pharmaceuticals, Inc., including the expected closing of the Company’s initial public offering, the expected benefits of the Company’s TFF Platform and the Company’s plans to add to its existing pipeline of product candidates. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those factors are: (i) the close of the initial public offering is subject to market and other conditions, (ii) no drug product incorporating the TFF Platform has received FDA pre-market approval or otherwise been incorporated into a commercial drug product, (iii) the Company has no current agreements or understandings with any large pharmaceutical companies for the development of a drug product incorporating the TFF Platform and (iv) those other risks disclosed in the section “Risk Factors” included in the final prospectus referred to above. TFF Pharmaceuticals cautions readers not to place undue reliance on any forward-looking statements. TFF Pharmaceuticals does not undertake, and specifically disclaims, any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by law.

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