Turnstone biologics corp. announces pricing of upsized initial public offering

San diego, july 20, 2023 (globe newswire) -- turnstone biologics corp. (“turnstone” or the “company”) (nasdaq: tsbx), a clinical-stage biotechnology company developing new medicines to treat and cure solid tumors by pioneering a differentiated approach to tumor-infiltrating lymphocyte (til) therapy, today announced the pricing of its upsized initial public offering of 6,666,667 shares of common stock at a price to the public of $12.00 per share. all shares of common stock are being offered by turnstone. the gross proceeds to turnstone from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by turnstone, are expected to be $80.0 million. in addition, turnstone has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
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