Summary by Moomoo AI
T2 Biosystems, a company trading under the symbol TTOO on the Nasdaq Capital Market, has filed a prospectus supplement on August 23, 2024, to increase the maximum amount of shares available for sale under its At The Market Offering Agreement with H.C. Wainwright & Co., LLC. The supplement amends the previous sales agreement prospectus dated July 29, 2024, raising the potential offering to $13,390,000 of common stock. This adjustment is in accordance with the offering limitations set by General Instruction I.B.6 of Form S-3, which restricts the company to sell securities in public primary offerings up to one-third of its public float within a 12-month period, as long as the public float is below $75 million. As of June 24, 2024, the aggregate market value of T2 Biosystems' common stock held by non-affiliates was $48,487,620. The company has previously sold $2,772,114 of securities in the 12 months leading up to the date of the prospectus supplement. The last reported sale price of T2 Biosystems' common stock was $3.50 per share on August 22, 2024.
