---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-100790"
form_type: "8-K"
ticker: null
cik: "0001492674"
company_name: "T2 Biosystems, Inc."
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T18:45:36.722631+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# T2 Biosystems converts $15M of debt to equity; extends PIK interest option to Dec 2025

## Summary
- $15M of term loans converted into 3,280,618 common shares and 17,160.48 Series A Convertible Preferred shares.
- Each Series A share convertible into 100 common shares; outstanding loan principal reduced to ~$26.79M.
- Consent and Amendment No. 10 extends PIK period through earlier of Dec 31, 2025 or default.
- Change of Control definition amended to exclude stock acquisitions by CRG lenders.

## SEC filing metadata
- accession: 0001193125-24-100790
- form_type: 8-K
- cik: 0001492674
- company_name: T2 Biosystems, Inc.
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492674/000119312524100790/0001193125-24-100790-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492674/000119312524100790/d786433d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-100790
- JSON: https://secwatch.observer/filing/0001193125-24-100790.json
- Plain text: https://secwatch.observer/filing/0001193125-24-100790.txt

## Key facts
- Governance Changes
  T2 Biosystems, Inc.: Filed a Certificate of Designation for Series A Convertible Preferred Stock, establishing its preferences, rights, and limitations (effective 2024-04-12).
  - Change: charter amendment
  - Effective: 2024-04-12
  source text: On April 12, 2024, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock (the “ Certificate of Designation ”) with the Secretary of State of the State of Delaware pursuant to the Securities Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312524100790/0001193125-24-100790-index.htm
- Material Agreements
  T2 Biosystems, Inc. entered into Securities Purchase Agreement with CRG Partners III L.P., CRG Partners III - Parallel Fund "A" L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund "B" (Cayman) L.P. valued at $15.0 million (effective 2024-02-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: CRG Partners III L.P., CRG Partners III - Parallel Fund "A" L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund "B" (Cayman) L.P.
  - Value: $15.0 million
  - Effective: 2024-02-15
  source text: The Exchange was completed pursuant to the Securities Purchase Agreement (the “ Securities Purchase Agreement ”), dated as of February 15, 2024, with CRG Partners III L.P., CRG Partners III - Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312524100790/0001193125-24-100790-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.