T2 Biosystems Announces Proposed Public Offering

Rhea-AI Summary

T2 Biosystems, Inc. (NASDAQ: TTOO) announced an underwritten public offering of its common stock and warrants, subject to market conditions. The offering will be managed by Craig-Hallum Capital Group LLC and is made under a shelf registration filed with the SEC. A preliminary prospectus will be available on the SEC's website. T2 Biosystems focuses on rapid detection of sepsis-causing pathogens and antibiotic resistance, improving patient care while reducing costs. The company has an active pipeline including various diagnostic panels powered by its T2 Magnetic Resonance technology.

Positive

• The public offering could provide T2 Biosystems with necessary capital for future product development.
• The company has a strong product pipeline, potentially leading to increased revenue growth.

Negative

• The offering may lead to shareholder dilution, affecting existing investors.
• Market conditions may impact the success and terms of the public offering.

LEXINGTON, Mass., Feb. 13, 2023 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ: TTOO) today announced that it is commencing an underwritten public offering of shares of its common stock (or common stock equivalents) and warrants to purchase shares of its common stock. All of the securities are being offered by T2 Biosystems. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Craig-Hallum Capital Group LLC is acting as the sole managing underwriter for the offering.

This offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on March 31, 2021 and was declared effective on April 9, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South 9th Street, Suite 350, Minneapolis, Minnesota 55402, by telephone at (612) 334-6300, or by email at prospectus@chlm.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About T2 Biosystems

T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems’ products include the T2Dx® Instrument, the T2Bacteria® Panel, the T2Candida® Panel, the T2Resistance® Panel, and the T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the T2Biothreat™ Panel, the T2Cauris™ Panel, and T2Lyme™ Panel, as well as next-generation products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding whether or not the proposed public offering of T2 Biosystems’ securities will be completed. These and other important factors discussed under the caption “Risk Factors” in T2 Biosystems’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (SEC), T2 Biosystems’ Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, and T2 Biosystems’ other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statements speak only as of the date of this press release and are based on information available to T2 Biosystems as of the date of this release, and T2 Biosystems assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact

Philip Trip Taylor, Gilmartin Group
ir@T2Biosystems.com
415-937-5406

FAQ

What is T2 Biosystems' recent public offering about?

T2 Biosystems announced an underwritten public offering of its common stock and warrants, subject to market conditions.

Who is managing T2 Biosystems' public offering?

Craig-Hallum Capital Group LLC is acting as the sole managing underwriter for the offering.

How will T2 Biosystems' public offering affect existing shareholders?

The offering may lead to shareholder dilution, impacting existing investors' equity.

When was T2 Biosystems' shelf registration for the offering declared effective?

The shelf registration was declared effective on April 9, 2021.

What technologies does T2 Biosystems utilize in its products?

T2 Biosystems uses proprietary T2 Magnetic Resonance (T2MR) technology in its diagnostic products.