Tourmaline Bio Announces Pricing of Public Offering of Common Stock
25 Janeiro 2024 - 9:00AM
Tourmaline Bio, Inc. (“Tourmaline”) (Nasdaq: TRML), a late-stage
clinical biotechnology company developing transformative medicines
to dramatically improve the lives of patients with life-altering
immune and inflammatory diseases, today announced the pricing of an
underwritten public offering of 4,615,384 shares of its common
stock, at a public offering price of $32.50 per share. The gross
proceeds to Tourmaline from the offering, before deducting
underwriting discounts and commissions and offering expenses, are
expected to be $150.0 million. All of the common stock is being
offered by Tourmaline. In addition, Tourmaline has granted the
underwriters a 30-day option to purchase up to an additional
692,307 shares of common stock at the public offering price, less
the underwriting discounts and commissions. The offering is
expected to close on January 29, 2024, subject to satisfaction of
customary closing conditions.
Jefferies, Piper Sandler, Guggenheim Securities
and Truist Securities are acting as joint book-running managers for
the offering.
The offering is being made pursuant to a shelf
registration statement on Form S-3 that was filed with the
Securities and Exchange Commission (“SEC”) on August 15, 2022 and
was declared effective on August 25, 2022. The offering will be
made only by means of a prospectus supplement and the accompanying
prospectus which forms a part of the effective shelf registration
statement. A preliminary prospectus supplement and accompanying
prospectus relating to the offering was filed with the SEC on
January 24, 2024, and is available on the SEC’s website at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus relating to the offering may be obtained,
when available, from: Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY
10022, telephone: (877) 821-7388, email:
Prospectus_Department@Jefferies.com; Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, by telephone: (800) 747-3924, or by email:
prospectus@psc.com; Guggenheim Securities, LLC, Attention: Equity
Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY
10017, or by telephone at (212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com; Truist
Securities, Inc., Attention: Prospectus Department, 3333 Peachtree
Road NE, 9th floor, Atlanta, GA 30326, by telephone at (800)
685-4786, or by email at
TruistSecurities.prospectus@Truist.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any offer or 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 such
state or jurisdiction.
About Tourmaline Bio, Inc.
Tourmaline is a late-stage clinical
biotechnology company driven by its mission to develop
transformative medicines that dramatically improve the lives of
patients with life-altering immune and inflammatory diseases.
About TOUR006
TOUR006 is a long-acting, fully-human, anti-IL-6
monoclonal antibody with best-in-class potential and differentiated
properties including a naturally long half-life, low
immunogenicity, and high binding affinity to IL-6. To date, TOUR006
has been studied in 448 participants, including patients with
autoimmune disorders, across six clinical trials. Tourmaline is
developing TOUR006 in TED and ASCVD as its first two indications,
with additional diseases under consideration.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995, including but
not limited to, express or implied statements regarding the
completion, timing and size of the proposed offering.
Forward-looking statements are subject to a
number of risks and uncertainties, many of which involve factors or
circumstances that are beyond Tourmaline’s control. Tourmaline’s
actual results could differ materially from those stated or implied
in forward-looking statements due to a number of factors, including
but not limited to (i) the uncertainties associated with
Tourmaline’s platform technologies, as well as risks associated
with the clinical development and regulatory approval of product
candidates, including potential delays in the commencement,
enrollment and completion of clinical trials; (ii) risks related to
the inability of Tourmaline to obtain sufficient additional capital
to continue to advance its product candidates and its preclinical
programs; (iii) uncertainties in obtaining successful clinical
results for product candidates of Tourmaline and unexpected costs
that may result therefrom; (iv) risks related to the failure to
realize any value from product candidates and preclinical programs
being developed and anticipated to be developed by Tourmaline in
light of inherent risks and difficulties involved in successfully
bringing product candidates to market; and (v) the impacts of
general macroeconomic and geopolitical conditions, rising
inflation, and uncertain credit and financial markets on
Tourmaline’s business, clinical trials and financial position.
These and other risks and uncertainties are more fully described in
periodic filings with the SEC, including the factors described in
the section titled “Risk Factors” in Tourmaline’s Quarterly Report
on Form 10-Q for the quarter ended September 30, 2023 or other
similar headings found in documents Tourmaline files from time to
time with the SEC. You should not place undue reliance on these
forward-looking statements, which are made only as of the date
hereof or as of the dates indicated in the forward-looking
statements. Except as may be required under applicable law,
Tourmaline expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in its
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
This press release does not purport to summarize all of the
conditions, risks and other attributes of an investment in
Tourmaline.
Investor Contact:Lee M.
SternMeru Advisorslstern@meruadvisors.com
Tourmaline Bio (NASDAQ:TRML)
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