WBB Securities Acts as Co-Manager in $17 Million Follow-on Financing for T2 Biosystems
For Immediate Release
September 21, 2017
SAN DIEGO, CA – WBB Securities acted as co-manager to a transaction for T2 Biosystems, Inc., a manufacturer of next generation, rapid diagnostic equipment. Through an underwritten public offering, T2 Biosystems issued an aggregate of 4.38 million of its common stock to raise gross proceeds of $17.5 million in cash proceeds from the offering.
T2 Biosystems intends to use the net proceeds from this offering to fund commercial efforts, research and development activities, and for other general corporate and working capital purposes. Pending the use of proceeds described, the company intends to invest the net proceeds of the offering in short-term, interest-bearing, investment-grade securities or certificates of deposit.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About WBB Securities
WBB Securities is a leading investment management, investment banking, and equity research firm. Established in 2001 and headquartered in San Diego, California, WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities.
WBB Securities has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the US serving institutional and high net worth clients. The firm also maintains an investment banking and equity research practice focused exclusively in the life sciences
About T2 Biosystems, Inc.
T2 Biosystems is dedicated to developing in vitro diagnostic products to improve patient health. The Company has two FDA-cleared products, the T2Dx Instrument and T2Candida Panel targeting sepsis, and is utilizing its proprietary T2 Magnetic Resonance technology, or T2MR, to develop additional applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables the detection of pathogens, biomarkers and other abnormalities in a variety of patient sample types, including whole blood.