Lexington, Mass., May 31, 2018 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO) today announced the pricing of an underwritten registered public offering of 6,100,000 shares of common stock at a public offering price of $7.50 per share, before underwriting discounts, for gross proceeds of $45,750,000. T2 Biosystems has granted the underwriters a 30-day option to purchase up to an additional 915,000 shares of common stock at the public offering price, less the underwriting discount. All of the shares of common stock to be sold in the offering will be issued by T2 Biosystems. The offering is expected to close on or about June 4, 2018, subject to customary closing conditions.
Leerink Partners LLC is acting as the book-running manager for the offering. Canaccord Genuity LLC is acting as passive book-running manager. Janney Montgomery Scott LLC, JonesTrading Institutional Services LLC and WBB Securities LLC are acting as co-managers for the offering.
This offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on September 1, 2015 and declared effective on September 22, 2015. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 800-808-7525, ext. 6132 or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About T2 Biosystems
T2 Biosystems, an emerging leader in the development and commercialization of innovative medical diagnostic products for critical unmet needs in healthcare, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems’ products include the T2Dx Instrument, T2Candida Panel, and T2Bacteria Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including products for the detection of additional species and antibiotic resistance markers of sepsis pathogens, and tests for Lyme disease.
Certain statements contained in this press release that are not historical facts may contain forward-looking statements. Such statements reflect the current views of senior management of T2 Biosystems, Inc. ("we", "us", "our", "T2", "T2 Biosystems" or the "Company") and include those about the offering of our common stock. Such statements and those that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the federal securities laws or otherwise. Forward-looking statements address matters that involve risks and uncertainties. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement, including, for example whether or not the proposed offering will be consummated and the terms of the proposed offering. For more information on risk factors for T2’s business, please refer to our annual report on form 10-K filed with the Securities and Exchange Commission (SEC) on March 19, 2018 and other documents we file with the SEC from time to time. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. The statements made herein speak only as of the date of this press release. We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements contained in this press release.
John Sprague, T2 Biosystems
Chief Financial Officer