Tetraphase Pharmaceuticals Announces Pricing of Public Offering of Common Stock
WATERTOWN, Mass.--(BUSINESS WIRE)--
Pharmaceuticals, Inc. (NASDAQ:TTPH) today announced the pricing of
an underwritten public offering of 4.5 million shares of its common
stock at a price of $10.00 per share, less underwriting discounts and
commissions. The size of the offering was upsized from 3.3 million
shares to 4.5 million shares, raising aggregate gross proceeds of $45
million. Tetraphase has granted the underwriters a 30-day option to
purchase 675,000 additional shares of common stock on the same terms and
conditions. The offering is expected to close on or about November 13,
2013, subject to customary closing conditions.
BMO Capital Markets and Stifel are acting as joint book-running
managers. Guggenheim Securities, JMP Securities, and Needham & Company
are acting as co-managers. A registration statement relating to these
securities has been declared effective by the Securities and Exchange
Commission (SEC). The offering is being made only by means of a
prospectus. A copy of the final prospectus relating to these securities
will be filed with the SEC and may be obtained, when available, on the
SEC website at www.sec.gov.
Copies of the final prospectus may also be obtained by contacting BMO
Capital Markets Corp. at 3 Times Square, 27th Floor, New York, NY 10036,
Attention: Equity Syndicate Department, by telephone at (800) 414-3627
or by email to firstname.lastname@example.org
or by contacting Stifel, Nicolaus & Company, Incorporated, Attention:
Syndicate, One Montgomery Street, Suite 3700, San Francisco, California
94104, or by calling (415) 364-2500.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other 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 multidrug-resistant bacterial 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 multidrug-resistant infections, including MDR Gram-negative
Tetraphase Pharmaceuticals, Inc.
Executive Director, Corp. Communications
Susan Kim, 212-600-1902
Source: Tetraphase Pharmaceuticals, Inc.
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