resTORbio’s $97.8 Million Initial Public Offering


Goodwin advised resTORbio in the transaction

resTORbio, Inc. (NASDAQ:TORC), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases, executed its initial public offering of 6,516,667 shares of common stock at a public offering price of $15.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 850,000 additional shares. The gross proceeds from the offering are expected to be $97.8 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares in the offering were offered by resTORbio. The shares commenced trading on the NASDAQ Global Select Market on January 26, 2018 under the ticker symbol “TORC.”

BofA Merrill Lynch, Leerink Partners, and Evercore ISI acted as joint book-running managers for the offering. Wedbush PacGrow acted as a co-manager for the offering.

The Goodwin team was led by partners Mitchell Bloom (Picture) and Danielle Lauzon and included associates James Xu and Gabriela Morales-Rivera.

Involved fees earner: Mitchell Bloom – Goodwin Procter; Danielle Lauzon – Goodwin Procter; James Xu – Goodwin Procter; Gabriela Morales-Rivera – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: resTORbio Inc;