Tetraphase Pharmaceuticals, which is developing antibiotics to treat serious abdominal and urinary tract infections, raised $75 million by offering 10.7 million shares at $7, below the revised range of $8 to $10. The company had originally filed to offer 6.8 million shares at a range of $10 to $12 ($75 million deal size; $189 million market cap) before filing an amendment yesterday with plans to sell 8.3 million shares at a range of $8 to $10 ($75 million deal size; $168 million market cap). At the $7 offer price, Tetraphase commands a market cap of $147 million. The biotech, which initially filed confidentially on 11/15/2012, plans to list on the NASDAQ under the symbol "TTPH". Barclays and BMO Capital Markets acted as lead managers on the deal.
