TELA Bio announces public offering of 4.75M shares at $9.50 per share; expects net proceeds ~$42.1M

TELA Bio, Inc.

Offered 4,750,000 shares at $9.50 per share; underwriters have 30-day option for 712,500 additional shares.
Net proceeds expected ~$42.1 million after underwriting discounts and estimated expenses.
Use proceeds for general corporate purposes including sales, marketing, R&D, working capital, and capex.
Offering expected to close April 21, 2023, subject to customary conditions.
Underwriting agreement with Jefferies, Piper Sandler, and Lake Street Capital Markets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TELA Bio, Inc. entered into Underwriting Agreement with Jefferies LLC, Piper Sandler & Co. and Lake Street Capital Markets, LLC, as representatives of the several underwriters valued at approximately $42.1 million (effective 2023-04-18).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC, Piper Sandler & Co. and Lake Street Capital Markets, LLC, as representatives of the several underwriters
Value: approximately $42.1 million
Effective: 2023-04-18

Exact text from the filing

On April 18, 2023, TELA Bio, Inc. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Jefferies LLC, Piper Sandler & Co. and Lake Street Capital Markets, LLC, as representatives of the several underwriters listed in Schedule A thereto (the “ Underwriters ”) pursuant to which the Company agreed to issue and sell 4,750,000 shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”), to the Underwriters (the “ Offering ”).

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TELA Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-047844

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