Tempus AI, Inc. (TEM) today announced the pricing of its first public sale of 11,100,000 shares of Class A common stock at a fixed price of $37.00 per share. Tempus is the sole provider of all shares of Class A common stock. The total amount that Tempus expects to receive from this sale, before subtracting underwriting services charges and other related expenses, is expected to be $410.7 million of dollars. In addition, Tempus has granted the underwriters an option, valid for 30 days, to purchase up to an additional 1,665,000 shares of Class A common stock at the same price as the initial sale price, less underwriting service charges.
The shares are expected to begin trading on June 14, 2024, on the Nasdaq Global Select Market, under the symbol “TEM.” The sale is expected to close on June 17, 2024, subject to all standard closing requirements being met.
Morgan Stanley, JP Morgan and Allen & Company LLC are the lead book managers for the planned sale. BofA Securities and TD Cowen are additional managers of the portfolio, and Stifel, William Blair, Loop Capital Markets and Needham & Company are junior managers for the planned sale.
The legal document required for the sale of securities to the public was officially approved by the Securities and Exchange Commission (the “SEC”) on June 13, 2024 and is available on the SEC’s website at www.sec.gov. The sale is carried out exclusively through a detailed document which is part of the approved legal document. For a copy of the detailed document relating to this sale, once available, please contact: Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or by email at: [email protected]; JP Morgan Securities LLC, handled by Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at [email protected] And [email protected]; and Allen & Company LLC, Prospectus Department, 711 Fifth Avenue, New York, NY 10022, or by email at: [email protected].
This press release does not constitute an invitation to purchase or an attempt to solicit an offer to purchase these securities, and there shall be no sale of these securities in any state or jurisdiction in which such invitation or solicitation, or the sale would be contrary to law before the securities are registered or recognized under the securities laws of such State or jurisdiction.
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