Tenaya Therapeutics Announces Pricing of Upsized Initial Public Offering
Tenaya Therapeutics, Inc. (NASDAQ: TNYA) has announced the pricing of its upsized initial public offering (IPO) of 12 million shares at $15.00 each, set to trade on the Nasdaq from July 30, 2021. The IPO is expected to generate gross proceeds of $180 million, with an option for underwriters to purchase an additional 1.8 million shares. The offering closes on August 3, 2021, pending usual conditions, with Morgan Stanley, Cowen, and Piper Sandler as joint book-running managers. Tenaya aims to develop therapies for heart disease, leveraging expertise from top scientific institutions.
- Upsized IPO of 12 million shares at $15.00 each, raising $180 million in gross proceeds.
- Potential for underwriters to purchase an additional 1.8 million shares, enhancing capital influx.
- Strategic focus on curative therapies for heart disease, tapping into significant medical needs.
- Dilution risk for existing shareholders if underwriters exercise their option for additional shares.
Tenaya Therapeutics, Inc. (NASDAQ: TNYA), a biotechnology company with a mission to discover, develop and deliver curative therapies that address the underlying causes of heart disease, announced today the pricing of its underwritten, upsized initial public offering of 12,000,000 shares of its common stock at an initial public offering price of
All of the shares in the offering are being offered by Tenaya. The gross proceeds to Tenaya from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be
Morgan Stanley, Cowen and Piper Sandler are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering.
Registration statements relating to the offering have been filed with the Securities and Exchange Commission and became effective today. The offering is made only by means of a prospectus, copies of which may be obtained, when available, from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department, by telephone at (800) 747-3924, or by email at prospectus@psc.com. Copies of the final prospectus, when available, related to the offering will be available at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.
About Tenaya Therapeutics
Tenaya Therapeutics is a biotechnology company committed to a bold mission: to discover, develop and deliver curative therapies that address the underlying drivers of heart disease. Founded by leading cardiovascular scientists from Gladstone Institutes and the University of Texas Southwestern Medical Center, Tenaya is developing therapies for rare genetic disorders as well as for more prevalent heart conditions through three distinct but interrelated product platforms: Gene Therapy, Cellular Regeneration and Precision Medicine.
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