TELA Bio Announces Closing of Public Offering of Common Stock and Pre-Funded Warrants and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

About this update from Tela Bio, Inc.

[{"type":"text","content":"MALVERN, Pa., Oct. 24, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. (\"TELA\"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction, today announced the closing of its previously announced underwritten public offering of 14,670,000 shares of its common stock, including the exercise in full of the underwriters’ option to purchase additional shares, at a price to the public of $2.25 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 5,800,000 shares of common stock at a public offering price of $2.2499 per pre-funded warrant, which represents the per share public offering price for the shares of common stock less the $0.0001 per share exercise price for each pre-funded warrant, for gross proceeds of $46 million, before deducting underwriting discounts and commissions and other estimated offering expenses and assuming no exercise of the pre-funded warrants. All shares of common stock and pre-funded warrants were sold by TELA. Canaccord Genuity and Lake Street Capital Markets acted as joint bookrunners for the offering. TELA intends to use the net proceeds from the offering for general corporate purposes, including but not limited to sales and marketing, research and development activities, general and administrative matters, working capital and capital expenditures. The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-275511) that was declared effective by the Securities and Exchange Commission (“SEC”) on November 20, 2023. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available for free on the SEC’s website, located at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Canaccord Genuity LLC, Attention: Syndication Department, One Post Office Square, Suite 3000, Boston, Massachusetts 02109, or by telephone at (617) 371-3900, or by email at [email protected]; or Lake Street Capital Markets, LLC, Attention: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota 55402, or by telephone at (612) 326-1305, or by email at [email protected]. This press release does not constitute an offer to sell or the solicitation of an offer...

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