Telesis Bio raises $28M via convertible preferred, cuts 2023 revenue guidance to ~$35M

Telesis Bio Inc.

Gross proceeds of $28.0M from redeemable convertible preferred; warrants could add $46.2M if cash exercised.
2023 revenue guidance lowered to approximately $35M; operating expenses ~$55M; gross margin 57% unchanged.
CEO states goal to approach profitability in 2024 timeframe; financing led by Novalis LifeSciences.
Paul Meister of Novalis appointed to board of directors, expanding board from seven to eight.
Private placement expected to close June 2, 2023; investors include Northpond, BroadOak, and CEO affiliate M-185.

item 1.01 item 3.03 item 3.02 item 5.02 item 5.03 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Paul Meister

Director

Telesis Bio Inc.

Filed: May 31, 2023, 7:59 PM ET

appointed Paul Meister, a partner at Novalis LifeSciences LLC, as a director of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Meister was appointed as Director at Telesis Bio Inc..

Action: appointed
Role: Director

Exact text from the filing

appointed Paul Meister, a partner at Novalis LifeSciences LLC, as a director of the Company

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Telesis Bio Inc.: Filed Certificate of Designation to establish Redeemable Convertible Preferred Stock with rights, preferences, and privileges.

Change: charter amendment

Exact text from the filing

The Company expects to file with the Secretary of State of the State of Delaware the Certificate of Designation attached hereto as Exhibit 3.1 and incorporated herein by reference.

View on SEC.gov

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

Telesis Bio Inc. entered into Preferred Stock and Warrant Purchase Agreement with Novalis LifeSciences Investments II, L.P. and certain other investors valued at approximately $28.0 million (effective 2023-05-31).

Action: entry
Agreement: equity purchase
Counterparty: Novalis LifeSciences Investments II, L.P. and certain other investors
Value: approximately $28.0 million
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, Telesis Bio Inc. (the “Company”) entered into a redeemable convertible preferred stock and warrant purchase agreement (the “Preferred Stock and Warrant Purchase Agreement”) with Novalis LifeSciences Investments II, L.P. (the “Lead Investor”) and certain other investors

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001193125-23-157992

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.