DJ Terns Pharmaceuticals Upsized IPO Priced at High End of Expectations >TERN

· 02/05/2021 07:14

By Colin Kellaher

Terns Pharmaceuticals Inc. said its upsized initial public offering of 7.5 million shares was priced at $17 each, at the top of the expected range.

The Foster City, Calif., clinical-stage biopharmaceutical company previously planned to sell 6.25 million shares at between $15 and $17 apiece in the IPO.

Terns said it expects gross proceeds of $127.5 million, adding that it granted the underwriters a 30-day option to buy up to an additional 1.13 million shares.

Terns shares are slated to begin trading Friday under the symbol TERN.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 05, 2021 07:14 ET (12:14 GMT)