T2 Biosystems Announces Closing of Public Offering of Common Stock

LEXINGTON, Mass., Dec. 09, 2015 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO) today announced the closing of its underwritten public offering of 3,500,000 shares of common stock at a public offering price of $9.75 per share, before underwriting discounts, for gross proceeds of $34,125,000. In addition, T2 Biosystems has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock at the public offering price, less the underwriting discount. All of the shares of the common stock sold in the offering were offered by T2 Biosystems.

Goldman, Sachs & Co. acted as the book-running manager for the offering. Additional underwriters included Leerink Partners LLC, Canaccord Genuity Inc. and Cantor Fitzgerald & Co.

A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and was declared effective on September 22, 2015. The securities described above have not been qualified under any state blue sky laws. This offering was made solely by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov.  Copies of the final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by email at [email protected], or by phone at 1-866-471-2526.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 focused on developing innovative diagnostic products to improve patient health. With two FDA-cleared products targeting sepsis and a range of additional products in development, T2 Biosystems is an emerging leader in the field of in vitro diagnostics. The Company is utilizing its proprietary T2 Magnetic Resonance platform, or T2MR, to develop a broad set of 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 fast and sensitive detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, eliminating the time-consuming sample prep required in current methods.

Media Contact:
Susan Heins, Pure Communications
[email protected] 
864-286-9597

Investor Contact:
Matt Clawson, Pure Communications
[email protected] 
949-370-8500