TELA Bio

Canaccord Genuity Acted as Joint Bookrunner to TELA Bio, Inc. on its $46 Million Public Offering

Canaccord Genuity is pleased to announce that on October 24, 2024, it completed a public offering of common stock and pre-funded warrants for TELA Bio, Inc. (NASDAQ: TELA) (the “Company”). The Company issued  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, 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, for gross proceeds of $46 million. The Company 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.

Canaccord Genuity acted as Joint Bookrunner for the offering.
    
TELA Bio, Inc. designs, develops and markets innovative tissue reinforcement materials to address unmet needs in soft tissue reconstruction. The Company is committed to providing patients with advanced, economically effective biologic material repair solutions to minimize long-term exposure to permanent synthetic materials and improve clinical outcomes. The Company’s OviTex and OviTex PRS Reinforced Tissue Matrix products are designed to address the shortcomings of existing reinforcement materials in hernia repair, abdominal wall reconstruction and plastic and reconstructive surgery.