---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-217444"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2024-09-12T23:59:59+00:00"
generated_at: "2026-05-31T05:17:18.543966+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Terns Pharmaceuticals prices upsized $150M public offering; net proceeds ~$162M

## Summary
- Offering of 11.9M common shares at $10.50 and 2.38M pre-funded warrants at $10.50 per underlying share.
- Underwriters' option for 2.145M additional shares exercised in full; total gross proceeds ~$150M before discounts.
- Estimated net proceeds of $161.9M including option; cash runway extended into 2028.
- Proceeds to fund clinical trials, development of TERN-701, TERN-601 and TERN-800 series, and working capital.
- Jefferies and TD Cowen lead book-running managers; closing expected September 12, 2024.

## SEC filing metadata
- accession: 0001193125-24-217444
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2024-09-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000119312524217444/0001193125-24-217444-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000119312524217444/d878008d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-217444
- JSON: https://secwatch.observer/filing/0001193125-24-217444.json
- Plain text: https://secwatch.observer/filing/0001193125-24-217444.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.