TELA Bio, Inc. (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, has announced the pricing of its underwritten public offering of 3 million shares of its common stock at a public offering price of US$16 per share for gross proceeds of US$48 million, before underwriting discounts and commissions. In addition, TELA has granted the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock in the offering. All shares of common stock are being offered by TELA. The offering is expected to close on June 30, 2020, subject to the satisfaction of customary closing conditions.
Latham & Watkins LLP represented the underwriters in the offering with a corporate team led by New York partners Marc Jaffe and Nathan Ajiashvili, with associates Taylor Stevens, Daniel Walder, and Isabelle Sawhney.