Exhibit 99.1
resTORbio, Inc. Announces Pricing of
Public Offering of Common Stock
BOSTON, Massachusetts, March 19, 2019 (GLOBE NEWSWIRE) – resTORbio, Inc. (“resTORbio” or the “Company”) (Nasdaq:TORC), a clinical-stage biopharmaceutical company developing innovative medicines that target the biology of aging to prevent or treatage-related diseases, today announced the pricing of an underwritten public offering of 7,200,000 shares of its common stock at a public offering price of $6.95 per share. resTORbio also granted the underwriters a30-day option to purchase up to an additional 1,080,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $50.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering were sold by resTORbio. The offering is expected to close on or about March 22, 2019, subject to customary closing conditions.
BofA Merrill Lynch, SVB Leerink and Guggenheim Securities are acting as joint book-running managers for the offering. Wedbush PacGrow is acting asco-manager for the proposed offering.
The shares are being offered by resTORbio pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective by, the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on March 18, 2019. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to these securities may be obtained, when available, from:
| | • | | BofA Merrill Lynch, Attention: Prospectus Department,NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 (email: dg.prospectus_requests@baml.com); or |
| | • | | SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800)808-7525, ext. 6132, or by emailing syndicate@svbleerink.com. |
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
