BOSTON, Jan. 30, 2018 (GLOBE NEWSWIRE) -- resTORbio, Inc. (NASDAQ:TORC), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases, today announced the closing of its initial public offering of 6,516,667 shares of common stock at a public offering price of $15.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 850,000 additional shares. The gross proceeds from the offering are expected to be $97.8 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares in the offering were offered by resTORbio. The shares commenced trading on the NASDAQ Global Select Market on January 26, 2018 under the ticker symbol “TORC.”
BofA Merrill Lynch, Leerink Partners, and Evercore ISI acted as joint book-running managers for the offering. Wedbush PacGrow acted as a co-manager for the offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. Copies of the final prospectus relating to this offering may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at email@example.com; Leerink Partners, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525 ext. 6132, or by email at firstname.lastname@example.org; or Evercore ISI, Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, telephone: (888) 474-0200, or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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.
resTORbio, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases. resTORbio’s lead program focuses on selective inhibition of the target of rapamycin complex 1 (TORC1) pathway to treat aging-related diseases with an initial focus on diseases caused by immunosenescence, the decline in immune function that occurs during aging.
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Source: resTORbio, Inc.