Business
TELA Bio Announces Pricing of Public Offering of Common Stock
MALVERN, Pa., April 18, 2023 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA"), a commercial-stage medical technology company focused on providing innovative
About this update from Tela Bio, Inc.
[{"type":"text","content":"MALVERN, Pa., April 18, 2023 (GLOBE NEWSWIRE) -- TELA Bio, Inc. (\"TELA\"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient’s own anatomy, today announced the pricing of its previously announced underwritten public offering of 4,750,000 shares of its common stock at a price to the public of $9.50 per share, for gross proceeds of $45.125 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, TELA has granted the underwriters a 30-day option to purchase up to an additional 712,500 shares of its common stock at the public offering price, less underwriting discounts and commissions. All shares of common stock are being offered by TELA. The offering is expected to close on or about April 21, 2023, subject to the satisfaction of customary closing conditions. Jefferies, Piper Sandler, and Lake Street are acting as joint book-running managers 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 is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-251505) that was declared effective by the Securities and Exchange Commission (“SEC”) on December 29, 2020. A preliminary prospectus supplement relating to the offering has been filed with the SEC and a final prospectus supplement with the final terms of the offering will be filed with the SEC and will be 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, when available, from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, or by telephone at 877-821-7388, or by email at [email protected]; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at [email protected]; or Lake Street Capital Markets, LLC, Attention:...