T2 Biosystems Announces Agreement with CRG for the Conversion of $15 Million of CRG Term Loan into Equity [Yahoo! Finance]
T2 Biosystems, Inc. (TTOO)
Last t2 biosystems, inc. earnings: 2/24 04:05 pm
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Source: Yahoo! Finance
and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval. On February 15, 2024, T2 Biosystems entered into a Securities Purchase Agreement with CRG to facilitate the debt conversion. Pursuant to the terms of the Securities Purchase Agreement, within 10 business days of receiving stockholder approval of the transaction, CRG will cancel $15 million of loans outstanding under the CRG Term Loan Agreement in exchange for the issuance of an aggregate of $15 million of shares of common stock at a price per share of the lower of (i) the average closing price of our common stock on Nasdaq for the five consecutive trading days immediately preceding the date of issuance and (ii) the closing price of our common stock on Nasdaq on the trading day immediately preceding the date of issuance; provided that in the event t
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News
- T2 Biosystems, Inc. (NASDAQ: TTOO) had its price target lowered by analysts at Canaccord Genuity Group Inc. from $12.00 to $3.00. They now have a "hold" rating on the stock.MarketBeat
- T2 Biosystems to Report First Quarter 2024 Financial Results and Business Updates on May 6, 2024GlobeNewswire
- T2 Biosystems shareholders vote to convert $15M CRG debt into equity [Seeking Alpha]Seeking Alpha
- T2 Biosystems Shareholders Vote for CRG Debt Conversion into EquityGlobeNewswire
- T2 Biosystems Announces Extension of Multi-Year Capital Equipment Supplier Agreement with Vizient, Inc. [Yahoo! Finance]Yahoo! Finance
TTOO
Analyst Actions
- 4/29/24 - Canaccord Genuity
TTOO
Sec Filings
- 4/22/24 - Form S-1
- 4/19/24 - Form SC
- 4/18/24 - Form 8-K
- TTOO's page on the SEC website