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T2 Prices Public Stock Offering

NEW YORK (GenomeWeb) – T2 Biosystems said after the close of the market yesterday that it has priced its previously announced public offering of 3.5 million shares of common stock at $9.75 a share, giving the sale a value of $34.1 million before costs. 

The company has also granted the underwriters of the offering a 30-day option to buy up to 525,000 additional shares at the offering price, minus the underwriting discount. Goldman Sachs is acting as the book-running manager for the offering. Additional underwriters include Leerink Partners, Canaccord Genuity, and Cantor Fitzgerald.

During early morning trading on the Nasdaq, shares of T2 were down $.65 at $9.41.

In September, T2 filed with the US Securities and Exchange Commission to sell up to $100 million of its common stock.