Malvern-based Tela Bio, a medical technology company that focuses on soft-tissue reconstruction products, is expected to raise $32 million in a public stock offering, writes John George for the Philadelphia Business Journal. 

The company is offering 4 million shares of its common stock and pricing it at $8 per share. 

Tela Bio has also granted underwriters a 30-day option to buy a maximum of 600,000 additional shares to cover over-allotments. If the option is fully exercised, the offered amount will go up to $36.8 million. 

Following the news of a public stock offering, the company’s stock dropped more than ten percent. 

Earlier this year, Tela Bio started expanding from the soft-tissue reconstruction field to also include soft-tissue preservation and restoration. 

“It may seem like a subtle difference, but it’s a big difference,” said Tela Bio CEO Antony Koblish at the time. 

With this shift, the company is no longer focusing strictly on implants that reinforce tissue and has adopted a more “holistic” array of products that help preserve and restore soft tissue and facilitate healing, as well as drive better outcomes for patients. 

Read more about Tela Bio in the Philadelphia Business Journal.