BEAMSTART Logo

Terns Announces Pricing of Upsized $150.15 Million Public Offering

Benzinga LogoBenzinga18h ago

Terns Announces Pricing of Upsized $150.15 Million Public Offering - Benzinga

Quick Summary:

FOSTER CITY, Calif., Sept.10, 2024 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc.("Terns" or the "Company") (NASDAQ:TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced the pricing of its upsized underwritten public offering of 11,919,048 shares of its common stock at a public offering price of $10.50 per share, and, in lieu of common stock to certain investors, pre-funded warrants to purchase 2,380,952 shares of its common stock at a public offering price of $10.4999 per pre-funded warrant, in each case before underwriting discounts and commissions.

Terns has granted the underwriters a 30-day option to purchase up to an additional 2,145,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Terns, are expected to be approximately $150.15 million, excluding any exercise of the underwriters' option to purchase additional shares.


More Pictures

Terns Announces Pricing of Upsized $150.15 Million Public Offering - Benzinga (Picture 1)

or

Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 02:50:00 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 944 words

Reading Time: 6 minutes read

Sentences: 30 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22455913

View Article Analysis

About Benzinga

Benzinga Logo

Main Topics: InvestingBusiness

Official Website: benzinga.com

Update Frequency: 3 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 20 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #54

Publisher Details

Frequently Asked Questions

How long will it take to read this news story?

The story "Terns Announces Pricing of Upsized $150.15 Million Public Offering" has 944 words across 30 sentences, which will take approximately 4 - 8 minutes for the average person to read.

Which news outlet covered this story?

The story "Terns Announces Pricing of Upsized $150.15 Million Public Offering" was covered 18 hours ago by Benzinga, a news publisher based in United States.

How trustworthy is 'Benzinga' news outlet?

Benzinga is a fully independent (privately-owned) news outlet established in 2010 that covers mostly investing and business news.

The outlet is headquartered in United States and publishes an average of 3 news stories per day.

It's most recent story was published 20 hours ago.

What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #22455913
  • URL: https://beamstart.com/news/terns-announces-pricing-of-upsized-17260364503411

BEAMSTART

BEAMSTART is a global entrepreneurship community, serving as a catalyst for innovation and collaboration. With a mission to empower entrepreneurs, we offer exclusive deals with savings totaling over $1,000,000, curated news, events, and a vast investor database. Through our portal, we aim to foster a supportive ecosystem where like-minded individuals can connect and create opportunities for growth and success.

© Copyright 2024 BEAMSTART. All Rights Reserved.