TELA Bio (TELA) IPO Opens Higher

Today's IPO for TELA Bio, Inc. (NASDAQ: TELA) opened for trading at $13.75 after pricing 4,000,000 shares of common stock at a public offering price of $13.00 per share, before underwriting discounts and commissions, for gross proceeds of $52.0 million. All shares of common stock are being offered by TELA.

TELA has granted the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Canaccord Genuity LLC is acting as lead manager and JMP Securities LLC is acting as co-manager.

TELA Bio, Inc. is a commercial stage medical technology company focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. TELA’s products are designed to improve on shortcomings of existing biologics and minimize long-term exposure to permanent synthetic material. TELA's portfolio is supported by quality, data-driven science and extensive pre-clinical research that has consistently demonstrated advantages over other commercially available products.

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