Terns Announces Closing of Public Offering of Shares of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

FOSTER CITY, Calif., Dec. 23, 2022 (GLOBE NEWSWIRE) — Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq:TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, obesity and non-alcoholic steatohepatitis (NASH), today announced the closing of its previously announced underwritten public offering of 11,902,500 shares of its common stock, including 1,552,500 shares sold pursuant to the underwriters’ exercise in full of their option to purchase additional shares, at a public offering price of $7.25 per share, before underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Terns, are approximately $86.3 million. All of the securities were offered by Terns.

Read more at globenewswire.com