secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2025-12-11T23:59:59+00:00
Accession:  0001193125-25-315065
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharmaceuticals prices upsized $650M public offering of 16.25M shares at $40/share
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- Public offering of 16.25M shares at $40/share upsized; underwriters' option for 2.44M shares exercised in full.
- Estimated net proceeds ~$705.8M to fund TERN-701 trials, manufacturing, and potential commercial launch prep.
- Cash runway extended into 2031, based on existing cash plus estimated offering net proceeds.
- Jefferies, TD Cowen, Leerink Partners lead underwriters; closing expected Dec 11, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000119312525315065/0001193125-25-315065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000119312525315065/d93950d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-315065

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