For Immediate Release
June 5, 2017
SAN DIEGO, CA – WBB Securities acted as co-manager to a transaction for T2 Biosystems, Inc., a manufacturer of next generation, rapid diagnostic equipment. Through an underwritten public offering, T2 Biosystems issued an aggregate of 7,015,000 million of its common stock to raise gross proceeds of $52.6 million in cash proceeds from the offering.
T2 Biosystems intends to use the net proceeds from this offering to fund commercial efforts, research and development activities, and for other general corporate and working capital purposes. Pending the use of proceeds described, the company intends to invest the net proceeds of the offering in short-term, interest-bearing, investment-grade securities or certificates of deposit.
This press release shall 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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About WBB Securities
WBB Securities is a leading investment management, investment banking, and equity research firm. Established in 2001 and headquartered in San Diego, California, WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities.
WBB Securities has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the US serving institutional and high net worth clients. The firm also maintains an investment banking, equity research, and asset management practice focused exclusively in the life sciences
About T2 Biosystems, Inc.
T2 Biosystems, an emerging leader in the development and commercialization of innovative medical diagnostic products for critical unmet needs in healthcare, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems’ products include the T2Dx Instrument, T2Candida Panel, and T2Bacteria Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including products for the detection of additional species and antibiotic resistance markers of sepsis pathogens, and tests for Lyme disease.