The Goodwin Life Science team advised TELA Bio, Inc. ("TELA") on an underwritten public offering of 14,670,000 shares of its common stock, including the exercise in full of the underwriters’ option to purchase additional shares, at a price to the public of $2.25 per share and pre-funded warrants to purchase 5,800,000 shares of common stock at a public offering price of $2.2499 per pre-funded warrant for gross proceeds of $46 million, before deducting underwriting discounts, commissions, and other estimated offering expenses. TELA intends to use the net proceeds from the offering for general corporate purposes, including but not limited to sales and marketing, research and development activities, general and administrative matters, working capital and capital expenditures.
TELA Bio is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials.
The Goodwin team was led by Rachael Bushey, Justin Platt, Lula Weldekidan, Claire Treesh, Kevin Boyle and included Steven Tjoe, Heath Ingram, Maggie Wong, and Dan Karelitz.
For more information on the deal, please read the launch press release and the pricing press release.