T2 Biosystems, Inc. entered into a securities purchase agreement with an institutional investor for issuance of 1,700,000 common shares, par value $0.001 per share, at a price of $3.95 per share for gross proceeds of $6,715,000; and 325,317 pre-funded warrants at a price of $3.949 per pre-funded warrant for gross proceeds of $1,284,676.833; for aggregate gross proceeds of $7,999,676.833 on May 14, 2024. The company also issued a series A warrant to purchase up to 2,025,317 shares and series B warrant to purchase up to 2,025,317 shares. The exercise price of the pre-funded warrant is $0.001 per underlying common share.

The exercise price of the common warrants is $3.70 per underlying common share. The pre-funded warrant is immediately exercisable and may be exercised at any time until the pre-funded warrant is exercised in full, subject to the beneficial ownership limitation. The series A warrant is immediately exercisable upon issuance and will expire five and one-half years following the date of issuance.

The series B warrant is immediately exercisable upon issuance and will expire 18 months following the date of issuance. The shares, the common warrants, the pre-funded warrant and the shares of common stock issuable upon the exercise of the common warrants and pre-funded warrant are not at this time being registered under the Securities Act of 1933, as amended, were not offered pursuant to the registration statement and were offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act, and Rule 506(b) promulgated thereunder. The private placement is expected to close on or about May 17, 2024, subject to the satisfaction of customary closing conditions.