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T2 Biosystems Closes $34.1M Public Offering

NEW YORK (GenomeWeb) – T2 Biosystems has closed its public offering of 3.5 million shares of common stock, raising gross proceeds of $34.1 million.

T2 Bio priced the offering at $9.75 per share. In September, the firm filed to sell up to $100 million of its common stock in one or more offerings.

Goldman Sachs acted as book-running manager for the offering. Additional underwriters included Leerink Partners, Canaccord Genuity, and Cantor Fitzgerald.

T2 Bio said in a statement that it has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock at the public offering price, less the underwriting discount.

The Lexington, Massachusetts-based firm is developing molecular diagnostics for in vitro clinical applications on its T2 Magnetic Resonance detection platform.

In morning trading on the Nasdaq, shares of T2 Bio were trading down less than one percent at $9.24.