TESARO (TSRO) Prices 1.75M Share Offering at $135/Share

November 15, 2016 9:31 AM EST

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TESARO, Inc. (Nasdaq: TSRO) announced today that it has priced an underwritten public offering of an aggregate of 1,750,000 shares of its common stock at an offering price to the public of $135.00 per share. The gross proceeds from the offering will be approximately $236.3 million. In addition, TESARO has granted the underwriters an option to purchase up to an additional 262,500 shares of its common stock. TESARO estimates that the net proceeds from the offering will be approximately $224.1 million after deducting the underwriting discount and other offering expenses payable by TESARO, but excluding any exercise of the underwriters’ option.

The offering is expected to close on or about November 18, 2016, subject to customary closing conditions. Citigroup, Leerink Partners, Credit Suisse and Wells Fargo Securities are acting as bookrunners, and Baird, FBR, Guggenheim Securities, Raymond James, SunTrust Robinson Humphrey, and Wedbush PacGrow are acting as co-managers for the offering.



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