Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company focused on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions, has closed its initial public offering of 5,500,000 shares of its common stock at a price of $10.00 per share. The gross proceeds to Trevi from the offering were $55 million. All of the shares in the offering were sold by Trevi and began trading on the Nasdaq Global Market on May 7, 2019. 

In addition, a fund affiliated with New Enterprise Associates agreed to purchase 1,500,000 shares of Trevi’s common stock in a separate private placement concurrent with the completion of Trevi’s IPO at a price per share equal to the IPO price, for gross proceeds of $15 million. 

Stuart Falber led WilmerHale in the representation of Trevi on these transactions, with a team that included Caroline Dotolo, Jeffries Oliver-Li and Sam Rothberg.