Business
TELA Bio Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants
MALVERN, Pa., Oct. 22, 2024 (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., Oct. 22, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. (\"TELA\"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction, today announced that it has commenced an underwritten public offering of shares of its common stock and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase shares of its common stock. In addition, TELA expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the securities to be sold in the proposed offering at the public offering price for the common stock, less underwriting discounts and commissions. All shares of common stock and pre-funded warrants 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. Canaccord Genuity and Lake Street Capital Markets are acting as joint bookrunners for the proposed offering. TELA intends to use the net proceeds from the proposed 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 proposed offering is being 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 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 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 to buy...