TESARO Prices Public Offering Of 3.2 Mln Shares At $31.50/Share

(RTTNews) - TESARO, Inc. (TSRO) announced that it has priced underwritten public offering of 3.2 million common shares at $31.50 per share. The offering is expected to close on or about February 4, 2014.

In addition, TESARO has granted underwriters a 30-day option to purchase up to an additional 480,000 shares to cover over-allotments.

TESARO expects offering gross proceeds to be approximately $101 million. The company anticipates aggregate offering net proceeds will be approximately $94.1 million, after deducting expenses, but excluding any exercise of the underwriters' over-allotment option.

Citigroup, Deutsche Bank Securities and Leerink Partners are acting as joint book-running managers for the offering with BMO Capital Markets and Baird acting as co-managers for the offering.