T2 Biosystems Announces Closing of $8 Million Private Placement Priced At-The-Market Under Nasdaq Rules

LEXINGTON, Mass., May 17, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced that it has closed its previously announced private placement for the purchase and sale of an aggregate of 2,025,317 shares of common stock (or pre-funded warrant in lieu thereof), series A warrants to purchase up to 2,025,317 shares of common stock and short-term series B warrants to purchase up to 2,025,317 shares of common stock at a purchase price of $3.95 per share of common stock (or per pre-funded warrant in lieu thereof) and accompanying warrants priced at-the-market under Nasdaq rules. The series A warrants and short-term series B warrants have an exercise price of $3.70 per share and are exercisable immediately upon issuance. The series A warrants will expire five and one-half years from the date of issuance and the short-term series B warrants will expire eighteen months from the date of issuance.

Read more at globenewswire.com