WALTHAM, Mass., March 9, 2015 (GLOBE NEWSWIRE) -- TESARO, Inc. (Nasdaq:TSRO) today announced the closing of its previously announced underwritten public offering of common stock. TESARO sold 3,755,000 shares of common stock at an offering price to the public of $51.00 per share, which included 355,000 shares of common stock sold pursuant to the partial exercise of the underwriters' over-allotment option to purchase up to 510,000 additional shares. TESARO estimates that the net proceeds from the offering will be approximately $179.7 million, after deducting the underwriting discount and other offering expenses payable by TESARO and subject to any future exercise of the remaining portion of the underwriters' over-allotment option. Citigroup, Leerink Partners and Deutsche Bank Securities acted as joint book-running managers for the offering, with BMO Capital Markets, Robert W. Baird & Co. Incorporated and Mizuho Securities acting as co-managers for the offering.
The shares described above were issued by TESARO pursuant to its automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC") on July 1, 2013. A preliminary prospectus supplement and related prospectus related to the offering were filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and related prospectus relating to this offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at 1-800-831-9146 or email at prospectus@citi.com, from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, via telephone at 1-800-808-7525 (ext. 6142) or email at syndicate@leerink.com, or from Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, NY 10005-2836, via telephone at 1-800-503-4611 or email at prospectus.cpdg@db.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor will there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties, including statements regarding the public offering. More information about potential factors that could affect TESARO's business and financial results is contained in its annual report on Form 10-K, its quarterly reports on Form 10-Q and other filings with the SEC. TESARO does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
About TESARO
TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients by acquiring, developing and commercializing safer and more effective therapeutics.