Tetraphase Pharmaceuticals increases shares, decreases range for $75 million IPO

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Tetraphase Pharmaceuticals, which is developing antibiotics to treat serious abdominal and urinary tract infections, revised the terms for its upcoming IPO, though it maintained the deal size. The Watertown, MA-based company still plans to raise $75 million, but will now offer 8.3 million shares at a price range of $8 to $10. The company had previously filed to offer 6.8 million shares at a range of $10 to $12. Tetraphase Pharmaceuticals, which was founded in 2006 and booked $8 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol TTPH. Barclays and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of March 18, 2013.



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This article appears in: News Headlines , IPOs

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