secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2024-09-12T23:59:59+00:00
Accession:  0001193125-24-217444
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000119312524217444/0001193125-24-217444-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000119312524217444/d878008d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-217444

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