April 12, 2013

Tetraphase Pharmaceuticals Announces Exercise of Underwriters' Option to Purchase Additional Shares in its Initial Public Offering

WATERTOWN, Mass.--(BUSINESS WIRE)-- Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) today announced that the underwriters for its initial public offering have exercised their over-allotment option and purchased an additional 797,792 shares in the offering. The sale of the additional shares, together with the shares sold at the initial closing of the offering, brings the total number of shares sold in the offering to 11,512,078 resulting in aggregate proceeds of $80.6 million, before underwriting discounts, commissions and expenses. Tetraphase's common stock is listed on the NASDAQ Global Market under the symbol "TTPH." All of the shares in the offering were offered by Tetraphase Pharmaceuticals.

Barclays and BMO Capital Markets are acting as joint book-running managers. Stifel, JMP Securities and Needham & Company are acting as co-managers for the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC) on March 19, 2013. The offering is being made only by means of a prospectus. A copy of the final prospectus relating to these securities has been filed with the SEC and may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (888) 603-5847, or by emailing barclaysprospectus@broadridge.com, or by calling BMO Capital Markets at (800) 414-3627, or by emailing bmoprospectus@bmo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Tetraphase Pharmaceuticals, Inc.

Tetraphase is a clinical-stage biopharmaceutical company using its proprietary chemistry technology to create novel antibiotics for serious and life-threatening multi-drug resistant infections. Tetraphase's lead product candidate, eravacycline, is a fully synthetic tetracycline derivative being developed as a broad-spectrum intravenous and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multi-drug resistant infections, including multi-drug resistant Gram-negative infections.

Investor Contacts:
Tetraphase Pharmaceuticals
David Lubner
Senior Vice President & CFO
617-715-3551
dlubner@tphase.com
or
Argot Partners
Susan Kim
212-600-1902
susan@argotpartners.com
or
Media Contact:
Sam Brown Inc.
Mike Beyer
773-463-4211
beyer@sambrown.com

Source: Tetraphase Pharmaceuticals, Inc.

News Provided by Acquire Media


Close window | Back to top

Copyright 2014 Tetraphase