Hogan Lovells Advises TESARO on Closing of US$201.25 Million Public Offering

WASHINGTON, D.C., 29 September 2014 – Hogan Lovells represented TESARO, Inc. (Nasdaq: TSRO), an oncology-focused biopharmaceutical company, in its closing of a US$201.25 million public offering of three percent convertible senior notes due in 2021, including full exercise of the underwriters’ option.

TESARO used approximately US$20.83 million of the net proceeds from the offering to fund the payment of the cost of capped call transactions, and expects to use the remaining net proceeds to fund commercialization activities for rolapitant (oral formulation), clinical trials for rolapitant (intravenous formulation), niraparib and TESARO's other product candidates, to carry out TESARO’s immuno-oncology platform strategy, and for working capital and general corporate purposes. Citigroup and Deutsche Bank Securities acted as joint book-running managers for the offering, with Leerink Partners, Baird and BMO Capital Markets acting as co-managers.

TESARO entered into capped call transactions with Citibank, N.A. and Deutsche Bank AG, London Branch in connection with the notes offering.

Hogan Lovells corporate partners Asher Rubin, William Intner, Eve Howard, Allen Hicks, and Evan Koster counseled TESARO. Corporate associates David Crandall, Les Reese, Nick Hoover, Greg Hafkin, and Kathleen Lucas also assisted as did IP counsel Teresa Lavenue.

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