T2 Biosystems Announces Pricing of Public Offering of Common Stock
September 15 2017 - 08:20AM
T2 Biosystems, Inc. (NASDAQ:TTOO) today announced the pricing
of an underwritten registered public offering of 4,375,000 shares
of common stock at a public offering price of $4.00 per share,
before underwriting discounts, for gross proceeds of $17,500,000.
T2 Biosystems has granted the underwriters a 30-day option to
purchase up to an additional 656,250 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 September 19, 2017, subject to customary closing conditions.
Canaccord Genuity Inc. and Cantor
Fitzgerald & Co. are acting as joint book-running managers
for the offering. Janney Montgomery Scott LLC, JonesTrading
Services LLC and WBB Securities, LLC are acting as co-managers.
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 on
September 22, 2015.
A preliminary prospectus supplement and
accompanying prospectus relating to the offering have been filed
with the SEC and are available on the SEC's website at
www.sec.gov. A final prospectus supplement will be filed with
the SEC. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering, when available,
may also be obtained by contacting Canaccord Genuity Inc., Attn:
Equity Syndicate Department, 99 High Street, 12th Floor, Boston,
Massachusetts 02110, by telephone at (617) 371-3900, or by email at
prospectus@canaccordgenuity.com, or by contacting Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave.,
6th Floor, New York, New York 10022, or by email at
prospectus@cantor.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 is dedicated to developing in
vitro diagnostic products to improve patient health. The Company
has two FDA-cleared products, the T2Dx Instrument and
T2Candida Panel targeting sepsis, and is utilizing its
proprietary T2 Magnetic Resonance technology, or T2MR®, to develop
additional applications aimed at lowering mortality rates,
improving patient outcomes and reducing the cost of healthcare by
helping medical professionals make targeted treatment decisions
earlier. T2MR enables the detection of pathogens, biomarkers and
other abnormalities in a variety of patient sample types, including
whole blood.
Forward-Looking Statements
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 relating to whether
or not the proposed offering will be completed. 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 15, 2017, the
current report on form 8-K filed with the SEC on September 14, 2017
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.
Company Contact:Darlene Deptula-Hicks, T2
BiosystemsSVP & Chief Financial
Officerddeptula@t2biosystems.com603-553-5803
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