The Capital Markets and Life Sciences teams advised TELA Bio, Inc. (NASDAQ: TELA) on its $13.0 million underwritten registered direct offering of common stock and pre-funded warrants. The offering included 4,189,000 shares of common stock and 7,523,000 shares issuable upon exercise of pre-funded warrants, priced at $1.11 per share and $1.1099 per warrant share, respectively. The transaction was conducted pursuant to an effective shelf registration statement and is expected to close on or about November 17, 2025, subject to customary closing conditions.
In connection with the offering, TELA also entered into a Credit Agreement with Perceptive Credit Holdings V, LP, providing for a senior secured term loan facility of up to $70.0 million. An initial loan of $60.0 million was funded on November 14, 2025, with an additional $10.0 million delayed draw loan available upon satisfaction of certain conditions. The facility matures on November 14, 2030. As consideration, TELA issued to Perceptive warrants to purchase up to 2,000,000 shares of common stock at an exercise price of $1.11, with additional warrants for 333,333 shares issuable in connection with the delayed draw loan.
TELA Bio, Inc. is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials.
The Goodwin team was led by Rachael Bushey, Justin Platt, Lula Weldekidan, Kevin Boyle, and Jessica Schatz; Kristopher Ring, Richard Garvan, Carlos Martinez and Christina Soliman; and Dan Karelitz and Gregg Coughlin, with invaluable assistance from Julia Shaver.
For more information, please read the press release.