TELA Bio Announces Pricing of Public Offering of Common Stock and Pre-Funded Warrants

MALVERN, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction, today announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock at a price to the public of $2.25 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 5,800,000 shares of common stock at a public offering price of $2.2499 per pre-funded warrant, which represents the per share public offering price for the shares of common stock less the $0.0001 per share exercise price for each pre-funded warrant, collectively, for gross proceeds of $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses and assuming no exercise of the pre-funded warrants. In addition, TELA has granted the underwriters a 30-day option to purchase up to an additional 2,670,000 shares of its common stock at the public offering price for the common stock, less underwriting discounts and commissions. All shares of common stock and pre-funded warrants are being offered by TELA. The offering is expected to close on or about October 24, 2024, subject to the satisfaction of customary closing conditions.