Tela Bio Prices $40 Mln Public Offering At $2.25/share

(RTTNews) - Tela Bio, Inc. (TELA) on Wednesday priced an underwritten public offering of 12 million shares at $2.25 per share and, pre-funded warrants to purchase 5.800 million shares at $2.2499 per pre-funded warrant.

The gross proceeds from the offering, to be closed on or about October 24, are expected to be at $40 million.

TELA intends to use the net proceeds from the offering for general corporate purposes, including sales and marketing, research and development, and others.

TELA has granted the underwriters a 30-day option to purchase up to an additional 2.670 million shares.

TELA was trading down by 7.63 percent at $2.300 in the pre-market trade on the Nasdaq.