Form 4: CR Group L.P. Reports Conversion of Preferred Stock to Common Stock in T2 Biosystems, Inc.

CR Group L.P. reports the conversion of Series A and Series B Preferred Stock into common stock of T2 Biosystems, Inc.

Summary

• CR Group L.P., along with related entities, filed a Form 4 detailing changes in beneficial ownership of T2 Biosystems, Inc. securities.
• The report indicates the conversion of Series A Preferred Stock into 1,716,048 shares of Common Stock on May 9, 2024.
• Additionally, Series B Preferred Stock was converted into 108,752 shares of Common Stock on the same date.
• These conversions were executed for no additional consideration.
• Following these transactions, CR Group L.P. indirectly beneficially owns 4,704,729 shares of Common Stock through CRG Partners III Parallel Fund B (Cayman) L.P.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Positives

• The conversion of preferred stock to common stock simplifies the capital structure of T2 Biosystems, Inc.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market.

Stakeholder Impact

• The conversion of preferred stock to common stock may dilute existing shareholders' equity.

Key Dates

Keywords

Form 4, Beneficial Ownership, T2 Biosystems, CR Group L.P., Common Stock, Preferred Stock, Conversion