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T2 Biosystems Prices Offering of 6.1M Shares

NEW YORK (360Dx) – T2 Biosystems announced today that it has priced a public offering of 6.1 million shares of its common stock at a public offering price of $7.50 per share, bringing in gross proceeds of roughly $45.8 million.

T2 Bio said that it will grant the underwriters a 30-day option to purchase up to an additional 915,000 shares of its common stock at the public offering price. The firm expects the offering to close around June 4.

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

The stock offering follows Tuesday's announcement that T2 Bio received marketing clearance 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 up 2 percent at $7.91 in Thursday morning trading on the Nasdaq.