MALVERN, Pa., Dec. 17, 2013 (GLOBE NEWSWIRE) -- TetraLogic Pharmaceuticals Corporation (Nasdaq:TLOG) today announced the closing of its initial public offering of 7,150,000 shares of its common stock at a public offering price of$7.00 per share, before the underwriting discount and offering costs. As a result, aggregate net proceeds to TetraLogic, after the underwriting discount and offering costs, were approximately $43,100,000.
In addition, the underwriters have a 30-day option to purchase up to an additional 1,072,500 shares of common stock at the same price to cover over-allotments, if any.
Oppenheimer & Co. Inc., Guggenheim Securities, LLC and Needham & Company, LLC acted as joint book-running managers for the offering.
TetraLogic intends to use the net proceeds of its initial public offering to advance the clinical and pre-clinical development of birinapant, other development programs, working capital and general corporate purposes.
TetraLogic has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the common stock being sold in the offering. The registration statement was declared effective by the SEC onDecember 11, 2013.
Read more: http://ir.tetralogicpharma.com/releasedetail.cfm?ReleaseID=814450