IRVINE, Calif. - Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), a company focusing on the development of treatments for eye care and other unmet medical needs, has announced the pricing of its underwritten public offering. The company will offer 2,812,500 shares of common stock at a public offering price of $32.00 per share. Additionally, Tarsus is offering pre-funded warrants to purchase up to 312,500 shares of common stock to a certain investor, with the public offering price of the warrants set at $31.9999 each.
The company has also granted underwriters a 30-day option to purchase up to an additional 468,750 shares of common stock at the public offering price, minus underwriting discounts and commissions. The gross proceeds from this offering are expected to be approximately $100 million before deductions for underwriting discounts, commissions, and other offering expenses. This offering is anticipated to close on March 5, 2024, contingent on meeting customary closing conditions.
Goldman Sachs & Co (NYSE:GS). LLC, BofA Securities, Guggenheim Securities, LLC, and Oppenheimer & Co. are serving as joint book-running managers for the offering. The securities will be sold pursuant to a registration statement filed with the U.S. Securities and Exchange Commission (SEC) on February 29, 2024, which became effective upon filing.
Tarsus Pharmaceuticals is known for its commitment to addressing diseases with high unmet medical needs through proven science and new technology. Its portfolio includes FDA-approved XDEMVY® (lotilaner ophthalmic solution) 0.25% for the treatment of Demodex blepharitis and several other therapies in Phase 2 development for conditions such as Meibomian Gland Disease, rosacea, and Lyme disease prevention.
The company cautions that this press release contains forward-looking statements regarding future events, and there are risks and uncertainties that could cause actual results to differ materially. These include market conditions and the satisfaction of customary closing conditions for the public offering. Tarsus disclaims any obligation to update any forward-looking statements. This announcement is based on a press release statement and shall not constitute an offer to sell or a solicitation of an offer to buy any securities.
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