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By Josh Beckerman
Shares of T2 Biosystems continued rising on Friday, a day after the in vitro diagnostics company said it would equitize a portion of its term loan with CRG Servicing.
T2 was recently up 37% to 11 cents. Volume was more than 251 million shares, compared with a 65-day average of 29.3 million. Shares rose 12% on Thursday.
T2 said early Thursday following the transaction that CRG is a 19.99% beneficial owner of the company’s outstanding common stock. The company said the transaction “strengthens our balance sheet and provides additional optionality to capitalize the business.”
Write to Josh Beckerman at [email protected]
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