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Share Name | Share Symbol | Market | Type |
---|---|---|---|
T2 Biosystems Inc | NASDAQ:TTOO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.58 | -9.57% | 5.48 | 5.32 | 5.48 | 6.00 | 5.3433 | 5.89 | 215,136 | 00:59:02 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) |
(Address of principal executive offices, including Zip Code)
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
(Nasdaq Capital Market) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 | Entry into a Material Definitive Agreement. |
On October 18, 2023, T2 Biosystems, Inc. (the “Company”) entered into Amendment No. 9 to Term Loan Agreement (the “Ninth Amendment”), with CRG Servicing LLC as administrative agent and collateral agent (in such capacities, “Administrative Agent”) and the lenders listed on the signature pages thereto to modify certain terms of that certain Term Loan Agreement, dated as of December 30, 2016, by and among the Company, the Administrative Agent and the lenders party thereto.
The Ninth Amendment extends the interest-only payment period from December 30, 2024 to December 31, 2025; extends the maturity date from December 30, 2024 to December 31, 2025; and permanently reduces the minimum liquidity covenant from $5 million to $500,000.
The foregoing summary is qualified in its entirety by reference to the Ninth Amendment, a copy of which will be attached as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2023.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 23, 2023 | T2 BIOSYSTEMS, INC. | |||||
By: | /s/ John Sprague | |||||
John Sprague | ||||||
Chief Financial Officer |
Document and Entity Information |
Oct. 18, 2023 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0001492674 |
Document Type | 8-K |
Document Period End Date | Oct. 18, 2023 |
Entity Registrant Name | T2 BIOSYSTEMS, INC. |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-36571 |
Entity Tax Identification Number | 20-4827488 |
Entity Address, Address Line One | 101 Hartwell Avenue |
Entity Address, City or Town | Lexington |
Entity Address, State or Province | MA |
Entity Address, Postal Zip Code | 02421 |
City Area Code | (781) |
Local Phone Number | 761-4646 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common stock, par value $0.001 per share |
Trading Symbol | TTOO |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
1 Year T2 Biosystems Chart |
1 Month T2 Biosystems Chart |
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