Summary by Moomoo AI
T2 Biosystems, Inc., a medical diagnostic company, has announced a special meeting of stockholders to be held virtually on April 11, 2024. The primary agenda for the meeting is to seek approval for the conversion of debt to equity with CRG, a healthcare investment firm. This conversion involves the issuance of common stock or convertible preferred stock in exchange for the cancellation of $15 million of outstanding loans under a term loan agreement with CRG. The conversion price per share will be determined by the lower of the average closing price of T2 Biosystems' common stock on Nasdaq for the five consecutive trading days preceding the issuance or the closing price on the day before the issuance. If the conversion results in CRG owning more...Show More