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Tesaro, Inc. (TSRO) Announces Pricing Of Public Offering Of Common Stock


1/30/2014 8:52:30 AM

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WALTHAM, Mass., Jan. 29, 2014 (GLOBE NEWSWIRE) -- TESARO, Inc. (Nasdaq:TSRO) announced today that it has priced an underwritten public offering of an aggregate of 3,200,000 shares of its common stock at a price to the public of $31.50 per share. The gross proceeds from the offering will be approximately $101 million. In addition, TESARO has granted the underwriters a 30-day option to purchase up to an additional 480,000 shares of its common stock on the same terms and conditions to cover over-allotments. TESARO anticipates that the aggregate net proceeds from the offering will be approximately $94.1 million, after deducting the underwriting discount and estimated offering expenses payable by TESARO, but excluding any exercise of the underwriters' over-allotment option. The offering is expected to close on or about February 4, 2014, subject to customary closing conditions. Citigroup, Deutsche Bank Securities and Leerink Partners are acting as joint book-running managers for the offering with BMO Capital Markets and Baird acting as co-managers for the offering.

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