LEXINGTON, Mass., Sept. 14, 2017 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO) today announced that it is commencing an underwritten registered public offering of shares of its common stock. T2 Biosystems also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock sold in the offering. All of the shares 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.
Canaccord Genuity Inc. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. Janney Montgomery Scott LLC, JonesTrading Services LLC and WBB Securities, LLC are acting as co-managers.
This offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on September 1, 2015 and was declared effective on September 22, 2015.
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 Canaccord Genuity Inc., Attn: Equity Syndicate Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, by telephone at (617) 371-3900, or by email at firstname.lastname@example.org, or by contacting Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at email@example.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 is dedicated to developing in vitro diagnostic products to improve patient health. The Company has two FDA-cleared products, the T2Dx Instrument and T2Candida Panel targeting sepsis, and is utilizing its proprietary T2 Magnetic Resonance technology, or T2MR®, to develop additional applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables the detection of pathogens, biomarkers and other abnormalities in a variety of patient sample types, including whole blood.
Certain statements contained in this press release that are not historical facts may contain forward-looking statements. Such statements reflect the current views of senior management of T2 Biosystems, Inc. ("we", "us", "our", "T2", "T2 Biosystems" or the "Company") and include those about the offering of our common stock. Such statements and those that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the federal securities laws or otherwise. Forward-looking statements address matters that involve risks and uncertainties. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement, including, for example whether or not the proposed offering will be consummated and the terms of the proposed offering. For more information on risk factors for T2’s business, please refer to our annual report on form 10-K filed with the Securities and Exchange Commission (SEC) on March 15, 2017 and other documents we file with the SEC from time to time. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. The statements made herein speak only as of the date of this press release. We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements contained in this press release.
Darlene Deptula-Hicks, T2 Biosystems
SVP & Chief Financial Officer
Source:T2 Biosystems, Inc.