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T2 Biosystems Prices $12M Public Offering

NEW YORK – T2 Biosystems announced on Wednesday that it has priced its underwritten public offering to raise initial gross proceeds of approximately $12 million. 

The Lexington, Massachusetts-based firm is offering 11,111,111 shares of common stock or common stock equivalents and warrants to purchase up to 22,222,222 shares of common stock at a combined public offering price of $1.08 per share. The warrants also have an exercise price of $1.08 per share and are exercisable immediately. They will expire five years after they are issued, the company said in a statement. 

The offering is expected to close on or about Feb. 17, and Craig-Hallum Capital Group is acting as the sole managing underwriter for the offering. 

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