TELA Bio secures $70M Perceptive term loan and launches approximately $11.9M equity offering; terminates MidCap facility

TELA Bio, Inc.

$60M initial loan funded Nov 14, 2025; optional $10M delayed draw. Matures Nov 14, 2030. Interest: 7.85% margin + greater of Reference Rate or 4.25%.
Issued Perceptive warrants for up to 2,333,333 shares at $1.11 exercise price, expiring 2035; warrants are cashless-exercisable and freely transferable.
Registered direct offering: 4,189,000 common shares and 7,523,000 pre-funded warrants at $1.11/$1.1099; expected net proceeds of ~$11.9M for general corporate purposes, closing Nov 17, 2025.
Terminated Credit & Security Agreement with MidCap Financial Trust; all MidCap security interests released.
Minimum liquidity covenant of $5.0M; revenue covenant specified in agreement; post-closing condition: company must receive at least $8.5M gross from equity offering.

item 1.01 item 1.02 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.98

TELA Bio, Inc. issued up to 333,333 shares of warrant to Perceptive Credit Holdings V, LP for in connection with the Delayed Draw Loan.

Security: warrant
Shares: up to 333,333 shares
Purchaser: Perceptive Credit Holdings V, LP
Consideration: in connection with the Delayed Draw Loan

Exact text from the filing

the Company will issue to Perceptive warrants to purchase up to 333,333 shares of its Common Stock, with an exercise price of $1.11

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32 equity issuances filed in the last 30 days. Browse all equity issuances →

TELA Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-112653

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