TELA Bio, a medical technology company in Malvern, is expecting to raise $48 million in a public stock offering, writes John George for the Philadelphia Business Journal.

The company went public in November with an initial public offering that raised $52 million. Now, TELA is selling an additional three million shares of its common stock and is pricing them at $16 per share.

The company has also granted a 30-day option to its underwriters to buy an additional 450,000 shares to cover over-allotments. If this option is exercised in full, the final amount of the public offering would grow by $7.2 million.

According to documents filed with the Securities and Exchange Commission, TELA will use some of the money to increase sales and marketing personnel. This will help grow the company’s marketing activities to support the commercialization of its OviTex product lines used in hernia repair and abdominal wall reconstruction.

The proceeds will also be used to finance product development and research and development activities. Finally, some of the funds will serve as work capital and for general corporate purposes.

Read more about TELA Bio in the Philadelphia Business Journal here.

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