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T2 Biosystems Proposes Public Stock Offering of 5.65M Shares

NEW YORK (360Dx) – T2 Biosystems announced on Tuesday that it has begun a public offering of 5.657 million shares of its common stock.

T2 Bio has not yet priced its shares. It said that it will grant the underwriters a 30-day option to purchase up to an additional 847,500 shares of its common stock.

Leerink Partners will act as joint book-running manager for the offering, while Canaccord Genuity will act as passive book-running manager. In addition, Janney Montgomery Scott, JonesTrading Services, and WBB Securities will act as co-managers for the offering.

The stock offering follows Tuesday's announcement that T2 Bio received 510(k) approval from the US Food and Drug Administration for its T2Bacteria panel, which will run on the firm's T2Dx Instrument.

The firm's shares were down 2 percent at $7.89 in late-morning trading on the Nasdaq.