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T2 Biosystems | DEF 14A: Definitive information statements

SEC announcement ·  Mar 4 16:37
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 issuing shares 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 days preceding the issuance or the closing price on the day before issuance. If the conversion results in CRG owning more than 49.99% of T2 Biosystems...Show More
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 issuing shares 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 days preceding the issuance or the closing price on the day before issuance. If the conversion results in CRG owning more than 49.99% of T2 Biosystems' common stock, convertible preferred stock will be issued instead. The meeting will also address any other business that may properly come before the meeting. Stockholders of record as of March 1, 2024, are entitled to vote at the meeting. The company has distributed proxy materials and encourages stockholders to vote in advance of the meeting.

This announcement is a separate document:

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