Tetraphase Announces Pricing of Public Offering of Common Stock
July 27 2017 - 8:22PM
Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a clinical stage
biopharmaceutical company developing novel antibiotics to treat
life-threatening multidrug-resistant (MDR) infections, today
announced the pricing of an underwritten public offering of
10,000,000 shares of its common stock for a public offering price
of $6.50 per share. The gross proceeds to Tetraphase from this
offering are expected to be $65.0 million, before deducting
underwriting discounts and commissions and offering expenses
payable by Tetraphase. Tetraphase has granted to the underwriters
participating in the offering a 30-day option to purchase up to an
additional 1,500,000 shares of common stock on the same terms and
conditions as the offering. All of the shares of common stock being
sold in the offering are to be sold by Tetraphase. The offering is
expected to close on or about August 2, 2017, subject to customary
closing conditions.
Piper Jaffray, BMO Capital Markets and Stifel are acting as
joint bookrunning managers for the offering. SunTrust Robinson
Humphrey is acting as lead manager and H.C. Wainwright & Co. is
acting as manager for the offering.
A shelf registration statement relating to the shares of common
stock offered in the public offering described above was filed with
the Securities and Exchange Commission (SEC) on June 16, 2017 and
declared effective by the SEC on July 5, 2017. The offering will be
made only by means of the written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement related to the offering has been
filed with the SEC and may be obtained for free by visiting EDGAR
on the SEC website at www.sec.gov. A final prospectus supplement
related to the offering will be filed with the SEC. When available,
copies of the final prospectus supplement and the accompanying
prospectus relating to the securities being offered may also be
obtained by contacting Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, telephone: (800) 747-3924, email: prospectus@pjc.com, by
contacting BMO Capital Markets Corp. at 3 Times Square, New York,
NY 10036, Attention: Equity Syndicate Department, by telephone at
(800) 414-3627 or by email to bmoprospectus@bmo.com or by
contacting Stifel, Nicolaus & Company, Incorporated,
Attention: Syndicate, One Montgomery Street, Suite 3700, San
Francisco, California 94104, by telephone at (415) 364-2720 or by
email to syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered 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 any such state or other
jurisdiction.
About Tetraphase Pharmaceuticals, Inc.
Tetraphase is a clinical-stage biopharmaceutical company using its
proprietary chemistry technology to create novel antibiotics for
serious and life-threatening bacterial infections, including those
caused by many of the multidrug-resistant (MDR) bacteria
highlighted as urgent public health threats by the CDC. Tetraphase
has created more than 3,000 novel tetracycline analogs using its
proprietary technology platform. Tetraphase's pipeline includes
three antibiotic clinical candidates: eravacycline, which is in
Phase 3 clinical trials, and TP-271 and TP-6076, which are in Phase
1 clinical trials.
Forward-Looking StatementsStatements contained
in this press release about Tetraphase that are not purely
historical, and all other statements that are not purely
historical, may be deemed to be forward-looking statements for
purposes of the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995. The words "anticipates,"
"believes," "estimates," "expects," "intends," "may," "plans,"
"projects," "will," "would" and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
These forward-looking statements involve known and unknown risks
and uncertainties that may cause Tetraphase's actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements Tetraphase
makes. Important factors that may cause or contribute to such
differences include whether or not Tetraphase will consummate the
offering, Tetraphase's ability to satisfy customary closing
conditions related to the proposed offering, and such other factors
as are set forth in the risk factors detailed from time to time in
Tetraphase's periodic reports and registration statements filed
with the SEC including, without limitation, the risk factors
detailed in Tetraphase's Quarterly Report on Form 10-Q filed with
the SEC on May 8, 2017 and the preliminary prospectus supplement
filed with the SEC on July 27, 2017 under the heading "Risk
Factors." You should not place undue reliance on these
forward-looking statements. In addition, any forward-looking
statements represent Tetraphase's views only as of today and should
not be relied upon as representing Tetraphase's views as of any
subsequent date. Tetraphase disclaims any obligation to update any
forward-looking statements.
Investor Contacts:
Tetraphase Pharmaceuticals
Teri Dahlman
617-600-7040
tdahlman@tphase.com
Argot Partners
Maeve Conneighton
206.899.4940
maeve@argotpartners.com
Media Contact:
Sam Brown Inc.
Mike Beyer
312-961-2502
Mikebeyer@sambrown.com
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