TELA Bio Prices 4M Share IPO @ $13/Share

TELA Bio, Inc.

Benzinga · 11/08/2019 09:24

TELA Bio, Inc. (NASDAQ: TELA), a commercial stage medical technology company focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction, today announced the pricing of its initial public offering of 4,000,000 shares of common stock at a public offering price of $13.00 per share, before underwriting discounts and commissions, for gross proceeds of $52.0 million.  All shares of common stock are being offered by TELA.  TELA has granted the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.  The shares are expected to begin trading on The Nasdaq Global Market on November 8, 2019 under the symbol "TELA." The offering is expected to close on November 13, 2019, subject to the satisfaction of customary closing conditions.  

Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Canaccord Genuity LLC is acting as lead manager and JMP Securities LLC is acting as co-manager.