T2 Biosystems Announces Pricing of Public Offering of Common Stock

LEXINGTON, Mass., Sept. 15, 2017 -- T2 Biosystems, Inc. (NASDAQ:TTOO) today announced the pricing of an underwritten registered public offering of 4,375,000 shares of common stock at a public offering price of $4.00 per share, before underwriting discounts, for gross proceeds of $17,500,000. T2 Biosystems has granted the underwriters a 30-day option to purchase up to an additional 656,250 shares of common stock at the public offering price, less the underwriting discount.  All of the shares of common stock to be sold in the offering will be issued by T2 Biosystems. The offering is expected to close on or about September 19, 2017, subject to customary closing conditions.

Canaccord Genuity Inc. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering.  Janney Montgomery Scott LLC, JonesTrading Services LLC and WBB Securities, LLC are acting as co-managers.

This offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on September 1, 2015 and declared on September 22, 2015.   

A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov.  A final prospectus supplement will be filed with the SEC.  Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Canaccord Genuity Inc., Attn: Equity Syndicate Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, by telephone at (617) 371-3900, or by email at [email protected], or by contacting Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 any such state or jurisdiction.

About T2 Biosystems

T2 Biosystems is dedicated to developing in vitro diagnostic products to improve patient health. The Company has two FDA-cleared products, the T2Dx Instrument and T2Candida Panel targeting sepsis, and is utilizing its proprietary T2 Magnetic Resonance technology, or T2MR®, to develop additional applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables the detection of pathogens, biomarkers and other abnormalities in a variety of patient sample types, including whole blood.

Forward-Looking Statements

Certain statements contained in this press release that are not historical facts may contain forward-looking statements. Such statements reflect the current views of senior management of T2 Biosystems, Inc. ("we", "us", "our", "T2", "T2 Biosystems" or the "Company") and include those relating to whether or not the proposed offering will be completed. Such statements and those that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the federal securities laws or otherwise. Forward-looking statements address matters that involve risks and uncertainties. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement, including, for example whether or not the proposed offering will be consummated and the terms of the proposed offering. For more information on risk factors for T2’s business, please refer to our annual report on form 10-K filed with the Securities and Exchange Commission (SEC) on March 15, 2017, the current report on form 8-K filed with the SEC on September 14, 2017 and other documents we file with the SEC from time to time. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. The statements made herein speak only as of the date of this press release. We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements contained in this press release.

Company Contact:
Darlene Deptula-Hicks, T2 Biosystems
SVP & Chief Financial Officer
[email protected]
603-553-5803