Terns Pharmaceuticals $65 million common stock and pre-funded warrants offering
Davis Polk advised the representative of the several underwriters in connection with the $65 million offering of 12,250,000 SEC-registered shares of common stock and pre-funded warrants to purchase 14,630,000 shares of common stock by Terns Pharmaceuticals, Inc. The common stock is listed on the Nasdaq Global Select Market under the symbol TERN.
Headquartered in Foster City, California, Terns Pharmaceuticals is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, obesity and non-alcoholic steatohepatitis (NASH).
The Davis Polk corporate team included partner Yasin Keshvargar and associates Michael Schuster and Courtney Clark. Partner David R. Bauer and associate S. Dream Montgomery provided intellectual property advice. Partner Mario J. Verdolini and associate William Liang provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York office.