TTOO - T2 Biosystems stock slides after pricing $12M securities offering

• T2 Biosystems ( NASDAQ: TTOO ) shares dropped 20% premarket on Wednesday after the firm priced its $12M securities offering .
• The offering consists of 11.11M shares of common stock (or common stock equivalents) and warrants to purchase up to 22.22M shares, issued at a combined price of $1.08 per share of common stock (or common stock equivalent) and accompanying warrants.
• The warrants are exercisable immediately at $1.08/share, and will expire five years following the date of issuance.
• Initial gross proceeds will be ~$12M. The offering is expected to close on or about February 17, 2023, subject to customary closing conditions.

For further details see: