Terns Pharmaceuticals prices $75M public offering of 10.35M shares at $7.25

Terns Pharmaceuticals, Inc.

Underwritten offering of 10,350,000 shares at $7.25 per share; gross proceeds ~$75M.
Underwriters' option for 1,552,500 additional shares exercised in full; net proceeds ~$80.8M.
Proceeds to advance TERN-501, TERN-701, and TERN-601 clinical programs and for working capital.
Lead book-runners: Jefferies and Cowen; co-managers: UBS, Mizuho, JMP Securities.
Offering priced Dec 20, 2022; closed Dec 23, 2022.

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