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Verastem reports full exercise of underwriter's option in common stock offering

Verastem Inc. issued 1,166,666 common shares at $4.50 apiece as part of the full exercise of the underwriter's option to buy additional shares in its public offering of common stock.

The company is issuing 7,777,778 shares in the offering, along with the 1,166,666 shares as part of the underwriter's option.

Verastem said the aggregate gross proceeds to the company from the offering, including the full exercise of the underwriter's option, are expected to be $40.2 million.

Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.