Terns Pharma Closes IPO, Full Underwriters’ Option Exercised

 Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases, today announced the closing of the Company’s initial public offering of 7,500,000 shares of common stock at a public offering price of $17.00 per share, along with   the exercise in full by the underwriters of their option to purchase an additional 1,125,000 shares of common stock. The exercise of the underwriters’ option to purchase additional shares is expected to close on February 12, 2021, subject to customary closing conditions. After giving effect to the full exercise by the underwriters of their option to purchase additional shares, aggregate gross proceeds to the Company are expected to be approximately $146.6 million, before underwriting discounts, commissions and estimated offering expenses. All of the shares in the offering were offered by Terns. Terns’ common stock is listed on the Nasdaq Global Select Market under the ticker symbol “TERN.”

J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book-running managers for the offering.

https://www.biospace.com/article/releases/terns-pharmaceuticals-inc-announces-closing-of-initial-public-offering-and-exercise-in-full-of-underwriters-option-to-purchase-additional-shares/