Business
TELA Bio Announces Proposed Public Offering of Common Stock
MALVERN, Pa., Aug. 15, 2022 (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., Aug. 15, 2022 (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 that it has commenced an underwritten public offering of shares of its common stock. In addition, TELA expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock to be sold in the proposed offering at the public offering price, less underwriting discounts and commissions. All shares of common stock are being offered by TELA. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the proposed offering. Lake Street Capital Markets, LLC is acting as sole book-running manager for the proposed offering. TELA intends to use the net proceeds from the proposed offering for working capital and general corporate purposes, including but not limited to research and development costs, manufacturing costs, the acquisition or licensing of other businesses, products or product candidates, working capital and capital expenditures. The proposed 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 and accompanying prospectus relating to the proposed 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 preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained, when available, from Lake Street Capital Markets, LLC, Attention: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota 55402, or by calling (612) 326-1305, or by emailing [email protected]. This press release does 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 registratio...