resTORbio Announces Closing Public Offering of Common Stock

- March 22nd, 2019

resTORbio (NASDAQ:TORC) has announced the closing of a previously announced underwritten public offering of 7.2 million shares of its common stock at a price of US$6.95 per share. As quoted in the press release:  resTORbio also granted the underwriters a 30-day option to purchase up to an additional 1,080,000 shares of common stock at the … Continued

resTORbio (NASDAQ:TORC) has announced the closing of a previously announced underwritten public offering of 7.2 million shares of its common stock at a price of US$6.95 per share.

As quoted in the press release:

 resTORbio also granted the underwriters a 30-day option to purchase up to an additional 1,080,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds raised in the offering, before deducting underwriting discounts and commissions and offering expenses, are approximately $50.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering were sold by resTORbio.

BofA Merrill Lynch, SVB Leerink and Guggenheim Securities acted as joint book-running managers for the offering. Wedbush PacGrow acted as co-manager for the offering.

The shares were offered by resTORbio pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective by, the U.S. Securities and Exchange Commission (SEC). The final prospectus supplement relating to the offering was filed with the SEC on March 20, 2019 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to these securities may be obtained from:

  • BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 (email: dg.prospectus_requests@baml.com); or
  • SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by emailing syndicate@svbleerink.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Click here to read the full press release.

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