Tourmaline Bio Announces Closing of $172.5 Million Public Offering of Common Stock, Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares

NEW YORK, Jan. 29, 2024 (GLOBE NEWSWIRE) — 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 closing of its previously-announced underwritten public offering of 5,307,691 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 692,307 additional shares, at a public offering price of $32.50 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $172.5 million. All shares of common stock were offered by Tourmaline. Following the closing of the offering, Tourmaline has 25,645,262 shares of common stock issued and outstanding as of January 29, 2024.

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