T2 Biosystems prices $46m offering

T2 Biosystems today priced an upcoming $45.8 million offering, looking to float approximately 6.1 million shares.

In the offering, T2 Biosystems will offer shares at a price of $7.50 per share, slightly lower than the May 29 closing price of $8.06 per share. As of 11:11 a.m. EDT, T2 Biosystems shares are trading at $8.34 pre share.

T2 said that it expects to pay approximately $2.8 million in underwriting discounts and commissions, bringing the likely proceeds, before expenses, to $43 million.

The offering includes a 30-day underwriter’s option for an additional 915,000 shares, which if fully exercised, would lift the total raised in the offering to $52.6 million, according to the SEC filing, or $49.5 million after underwriting discounts and commissions.

Delivery of shares in the offering is expected to be made around June 4, the company said.

Late last month, T2 Biosystems said it won FDA clearance for its T2 Bacteria panel for detecting bacterial species in human blood from patients with suspected bloodstream infections.

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