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NEWS: $125M public offering
Terns Announces Proposed Public Offering
Terns Pharmaceuticals (Nasdaq: TERN), a clinical-stage biopharmaceutical company, has announced a proposed public offering of $125 million in common stock and pre-funded warrants. The company plans to grant underwriters a 30-day option to purchase up to an additional $18.75 million of shares. Jefferies, TD Cowen, and UBS Investment Bank are acting as bookrunners for the offering.
Terns intends to use the net proceeds to fund research, clinical trials, development, and manufacturing of key product candidates, including TERN-701, TERN-601, and the TERN-800 series. The offering is subject to market conditions, and there is no assurance of its completion or terms.
Terns intends to use the net proceeds to fund research, clinical trials, development, and manufacturing of key product candidates, including TERN-701, TERN-601, and the TERN-800 series. The offering is subject to market conditions, and there is no assurance of its completion or terms.
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