Tourmaline Bio closes USD 172.5 million public offering of common stock

Tourmaline Bio, Inc. 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.

Jefferies, Piper Sandler, Guggenheim Securities and Truist Securities acted as joint book-running managers for the offering.

The offering was made pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission (“SEC”) on August 15, 2022 and was declared effective on August 25, 2022. The offering was made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement.
MB Bureau