TELA Bio drops on pricing stock deal

TELA Bio

16/08/2022 13:36

** Shares of TELA Bio Inc  TELA.O  down 9.2% at $8.31 before
the bell after follow-on prices
    ** Medtech firm late Mon sold 4 mln shares at $8, 12.6%
discount to stock's last sale  urn:newsml:reuters.com:*:nGNX5fJwYl
    ** Offering represents ~27% of co's shares outstanding and
~32% of its free float, per Refinitiv data
    ** Lake Street Capital Markets sole bookrunner
    ** Co last week reported Q2 rev rose 38% yr/yr to $10 mln on
increased demand for its OviTex soft-tissue reconstruction
products  urn:newsml:reuters.com:*:nGNX29hqxc
    ** YTD, shares off 28.5% through Mon close
    ** All 5 analysts covering TELA are bullish with median PT
of $20 - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))