Tourmaline Bio prices 4.6M shares at $32.50 in underwritten public offering

Tourmaline Bio announced the pricing of an underwritten public offering of 4,615,384 shares of its common stock, at a public offering price of $32.50 per share. The gross proceeds to Tourmaline from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $150.0 million. All of the common stock is being offered by Tourmaline. In addition, Tourmaline has granted the underwriters a 30-day option to purchase up to an additional 692,307 shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on January 29, 2024, subject to satisfaction of customary closing conditions. Jefferies, Piper Sandler, Guggenheim Securities and Truist Securities are acting as joint book-running managers for the offering