Company: VRCA
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001193125-25-330986
Chunk: 4

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 4
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 Our website address is www.verrica.com. The information contained on, or accessible through, our website is not incorporated by
reference into this prospectus, and you should not consider any information contained in, or that can be accessed through, our website as part of this prospectus.

Private Placement

On November 23,
2025, we entered into the Purchase Agreements with the selling stockholders named herein, pursuant to which we agreed to sell and issue to the Purchasers in a private placement transaction (the “Private Placement”) an aggregate of (i)
6,499,826 shares of our common stock, (ii) with respect to certain Purchasers, pre-funded warrants to purchase up to 5,305,164 shares of our common stock in lieu of shares of our common stock and
(iii) in either case, accompanying Common Warrants to purchase up to 2,951,240 shares of our common stock. The purchase price per share of common stock and accompanying Common Warrant was $4.24125 (the “Purchase Price”) and the
purchase price for the Pre-Funded Warrants and accompanying Common Warrant was the Purchase Price minus $0.0001. For additional information regarding the Purchase Agreements, refer to the summary included
under Item 8.01 of our Current Report on Form 8-K filed with the SEC on November 24, 2025, which is incorporated by reference herein.

The Pre-Funded Warrants have a per share exercise price of $0.0001, subject to proportional
adjustments in the event of stock splits or combinations or similar events. The Pre-Funded Warrants will not expire until exercised in full. The Common Warrants are immediately exercisable and have a
per share exercise price of $6.315, subject to proportional adjustments in the event of stock splits or combinations or similar events, as well as adjustments for future issuances by us below the exercise price of the Common Warrants subject to the
limitations and carve outs set forth therein. The Common Warrants will expire on the fifth anniversary of the Closing, November 25, 2030. Neither the Pre-Funded Warrants nor the Common Warrants
may be exercised if the aggregate number of shares of Common Stock beneficially owned by the holder thereof together with its affiliates immediately following such exercise would exceed a specified beneficial ownership limitation; provided, however,
that a holder may increase or decrease the beneficial ownership limitation, but not to any percentage in excess of 19.99% or