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TetraLogic Pharmaceuticals (TLOG) Slashes Proposed IPO Price To $7, Deal Size Is Now $46 Million


12/12/2013 6:59:33 AM

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TetraLogic Announces Pricing of Initial Public Offering of Common Stock

MALVERN, Pa., Dec. 12, 2013 (GLOBE NEWSWIRE) -- TetraLogic Pharmaceuticals Corporation (TetraLogic) today announced pricing of its initial public offering of 7,150,000 shares of its common stock at a public offering price of $7.00 per share, before underwriting discount and offering costs. All of the shares of common stock are being offered by TetraLogic. In addition, TetraLogic has granted the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of common stock at the same price to cover over-allotments, if any. The shares are expected to begin trading on the NASDAQ Global Market on December 12, 2013 under the symbol "TLOG."

The offering is expected to close on December 17, 2013, subject to customary closing conditions.

Oppenheimer & Co. Inc., Guggenheim Securities, LLC and Needham & Company, LLC are acting as joint book-running managers for the offering.

TetraLogic intends to use the net proceeds of its initial public offering to advance the clinical and pre-clinical development of birinapant, other development programs, working capital and general corporate purposes.

TetraLogic has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the common stock being sold in the offering. The registration statement was declared effective by the SEC on December 11, 2013. The offering is being made only by means of a prospectus, copies of which may be obtained from:

Oppenheimer & Co. Inc.

Attention: Syndicate Prospectus Department

85 Broad Street, 26th Floor

New York, NY 10004

Phone: (212) 667-8563

Email: EquityProspectus@opco.com

Guggenheim Securities, LLC

Attention: Paul Gaydos

330 Madison Avenue, 15th Floor

New York, NY 10017

Phone: (212) 739-0700

Email: paul.gaydos@guggenheimpartners.com

Needham & Company, LLC

Attention: Prospectus Department

445 Park Avenue, 3rd Floor

New York, NY 10022

Phone: (800) 903-3268

Email: prospectus@needhamco.com

A copy of the prospectus relating to the offering may also be obtained by accessing the SEC's website at www.sec.gov.

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 TetraLogic

TetraLogic is a clinical-stage biopharmaceutical company focused on discovering and developing novel small molecule therapeutics that mimic Second Mitochondrial Activator of Caspases, or SMAC-mimetics, and are designed to cause or enable abnormal cells that are resistant to the body's immune system to self-destruct. Birinapant, our clinical-stage product candidate, is currently being tested in Phase 1 and Phase 2 oncology clinical trials for hematological malignancies and multiple solid tumors.

Forward Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These statements relate to future events or TetraLogic's pre-clinical and clinical development of birinapant and other clinical programs, future expectations, plans and prospects. Although TetraLogic believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. TetraLogic has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the heading "Risk Factors" in our Registration Statement on Form S-1 originally filed with the Securities and Exchange Commission on October 18, 2013, as amended (Registration No. 333-191811).

Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Contact:

Company Contact:

Pete A. Meyers

TetraLogic Pharmaceuticals Corporation

(610) 889-9900

pete.meyers@tetralogicpharma.com

Investor Relations Contact:

Lisa Burns

Burns McClellan, Inc.

(212) 213-0006

lburns@burnsmc.com

Ami Bavishi

Burns McClellan, Inc.

(212) 213-0006

abavishi@burnsmc.com

Media and Public Relations Contact:

Bill Berry

Berry & Company

212-253-8881

bberry@berrypr.com

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