T2 Biosystems Announced The Conversion Of Approximately 20% Of Its Term Loan With Entities Affiliated With Crg Servicing Into Its Common Stock And Series B Convertible Preferred Stock
Portfolio Pulse from Benzinga Newsdesk
T2 Biosystems has converted approximately 20% of its term loan with entities affiliated with CRG Servicing into its common stock and Series B convertible preferred stock.
July 06, 2023 | 12:08 pm
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T2 Biosystems has converted a portion of its debt into equity, which could dilute existing shareholders but also reduce its debt burden.
The conversion of debt into equity can have a mixed impact on a company's stock. On one hand, it reduces the company's debt burden, which can be positive for the stock. On the other hand, it can dilute existing shareholders, which can put downward pressure on the stock price. The net impact on T2 Biosystems' stock will depend on how these factors balance out.
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