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T2 Biosystems Closes $52.6M Public Offering of Common Stock

NEW YORK (360Dx) – T2 Biosystems announced today that it has closed its previously announced public offering, raising about $52.6 million in gross proceeds.

The firm sold about 7 million shares of its common stock, including 915,000 shares to the offering's underwriters, who exercised in full their option to purchase additional shares at a price of $7.50 per share.

T2 Bio said last week that it planned to sell about 6.1 million shares at $7.50 per share, not including the additional shares granted to the underwriters, and that it expected to raise about $45.7 milion

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

T2 Bio's shares were up nearly 3 percent at $9.08 in Tuesday morning trading on the Nasdaq.