Last Updated on August 18, 2022 by GlobeNewsWire
MALVERN, Pa., Aug. 18, 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 the closing of its previously announced underwritten public offering of 4,600,000 shares of its common stock at a price to the public of $8.00 per share, including 600,000 shares sold pursuant to the full exercise of the underwriter’s option to purchase additional shares, for gross proceeds of $36.8 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All shares of common stock were sold by TELA.
Lake Street Capital Markets, LLC acted as sole book-running manager for the offering.
TELA intends to use the net proceeds from the 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 offering was 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 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 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 firstname.lastname@example.org.
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 registration or qualification under the securities laws of that state or jurisdiction.
About TELA Bio, Inc.
TELA Bio, Inc. is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient’s own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient’s natural healing response while minimizing long-term exposure to permanent synthetic materials.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of TELA’s management. Such forward-looking statements include, without limitation, statements relating to the use of proceeds of the public offering of common stock. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements including, the risks set forth in the “Risk Factors” section and elsewhere in the prospectus supplement related to the public offering filed with the Securities and Exchange Commission and in our other filings with the Securities and Exchange Commission and available at http://www.sec.gov, including in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this announcement speak only as of the date of this press release, and TELA assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law.
Investor Contact Greg Chodaczek email@example.com