SC 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.                     )*

 

 

T2 Biosystems, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

89853L203

(CUSIP Number)

July 3, 2023

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 89853L203    Page 2 of 14

 

  1.    

  Names of Reporting Persons

 

  Nathan D. Hukill

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  United States

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  72,503,592

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  72,503,592

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  72,503,592

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  19.9% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  IN

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer, plus 24,157,794 shares of Common Stock issuable upon conversion of shares of Series B convertible preferred stock of the Issuer that are beneficially owned by the Reporting Persons.


CUSIP No. 89853L203    Page 3 of 14

 

  1.    

  Names of Reporting Persons

 

  CR Group L.P.

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  72,503,592

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  72,503,592

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  72,503,592

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  19.9% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  IA

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer, plus 24,157,794 shares of Common Stock issuable upon conversion of shares of Series B convertible preferred stock of the Issuer that are beneficially owned by the Reporting Persons.


CUSIP No. 89853L203    Page 4 of 14

 

  1.    

  Names of Reporting Persons

 

  CRG Partners III L.P.

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  19,334,277

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  19,334,277

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  19,334,277

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  6.7% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  PN

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer.


CUSIP No. 89853L203    Page 5 of 14

 

  1.    

  Names of Reporting Persons

 

  CRG Partners III Parallel Fund “A” L.P.

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  12,039,660

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  12,039,660

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  12,039,660

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  4.1% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  PN

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer.


CUSIP No. 89853L203    Page 6 of 14

 

  1.    

  Names of Reporting Persons

 

  CRG Partners III (Cayman) Unlev AIV I L.P.

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  Cayman Islands

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  3,866,855

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  3,866,855

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  3,866,855

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  1.3% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  PN

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer.


CUSIP No. 89853L203    Page 7 of 14

 

  1.    

  Names of Reporting Persons

 

  CRG Partners III (Cayman) Lev AIV I L.P.

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  United States

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  37,262,800

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  37,262,800

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  37,262,800

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  11.9% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  PN

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer, plus 24,157,794 shares of Common Stock issuable upon conversion of shares of Series B convertible preferred stock of the Issuer that are beneficially owned by the Reporting Persons.


CUSIP No. 89853L203    Page 8 of 14

 

  1.    

  Names of Reporting Persons

 

  CRG Partners III Parallel Fund “B” (Cayman) L.P.

  2.  

  Check the Appropriate Box if a Member of a Group (See Instructions)

 

  (a)  ☒ (1)        (b)  ☐

  3.  

  SEC Use Only

 

  4.  

  Citizenship or Place of Organization

 

  United States

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5.     

  Sole Voting Power

 

  0

   6.   

  Shared Voting Power

 

  24,157,794

   7.   

  Sole Dispositive Power

 

  0

   8.   

  Shared Dispositive Power

 

  24,157,794

  9.    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  24,157,794

10.  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐

11.  

  Percent of Class Represented by Amount in Row (9)

 

  7.7% (2)

12.  

  Type of Reporting Person (See Instructions)

 

  PN

 

(1)

Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund “B” (Cayman) L.P. are members of a group for the purposes of this Schedule 13G.

(2)

This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer, plus 24,157,794 shares of Common Stock issuable upon conversion of shares of Series B convertible preferred stock of the Issuer that are beneficially owned by the Reporting Persons.


CUSIP No. 89853L203    Page 9 of 14

 

Item 1.

  

(a)

  

Name of Issuer

 

T2 Biosystems, Inc.

  

(b)

  

Address of Issuer’s Principal Executive Offices

 

101 Hartwell Avenue, Lexington, MA 02421

Item 2.

  

(a)

  

Name of Person Filing

 

This Schedule 13G is filed jointly by the following persons (each a “Reporting Person” and collectively, the “Reporting Persons”):

 

Nathan D. Hukill

CR Group L.P.

CRG Partners III L.P.

CRG Partners III Parallel Fund “A” L.P.

CRG Partners III (Cayman) Unlev AIV I L.P.

CRG Partners III (Cayman) Lev AIV I L.P.

CRG Partners III Parallel Fund “B” (Cayman) L.P.

     

 

CR Group L.P. may be deemed to beneficially own the shares by virtue of its position as the investment manager for CRG Partners III L.P., CRG Partners III Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund “B” (Cayman) L.P. Mr. Hukill may be deemed to have beneficial ownership over the securities by virtue of his indirect control of CR Group L.P.

  

(b)

  

Address of Principal Business Office or, if none, Residence

 

The address of the principal business office of each of the Reporting Persons is 1000 Main Street, Suite 2500, Houston, TX 77002.

  

(c)

  

Citizenship

 

See Row 4 of the cover page for each Reporting Person.

  

(d)

  

Title of Class of Securities

 

Common Stock, par value $0.001 per share

  

(e)

  

CUSIP Number

 

89853L203

Item 3.

  

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  

Not applicable


CUSIP No. 89853L203    Page 10 of 14

 

Item 4.    Ownership  
     (a)    Amount beneficially owned:  
         

Nathan D. Hukill

   72,503,592 (1)  
         

CR Group L.P.

   72,503,592 (1)  
         

CRG Partners III L.P.

   19,334,277  
         

CRG Partners III Parallel Fund “A” L.P.

   12,039,660  
         

CRG Partners III (Cayman) Unlev AIV I L.P.

   3,866,855  
         

CRG Partners III (Cayman) Lev AIV I L.P.

   37,262,800 (1)  
         

CRG Partners III Parallel Fund “B” (Cayman) L.P.

   24,157,794 (1)  
     (b)    Percent of class:  
         

Nathan D. Hukill

   19.9% (2)  
         

CR Group L.P.

   19.9% (2)  
         

CRG Partners III L.P.

   6.7% (2)  
         

CRG Partners III Parallel Fund “A” L.P.

   4.1% (2)  
         

CRG Partners III (Cayman) Unlev AIV I L.P.

   1.3% (2)  
         

CRG Partners III (Cayman) Lev AIV I L.P.

   12.8% (2)  
         

CRG Partners III Parallel Fund “B” (Cayman) L.P.

   8.3% (2)  
     (c)    Number of shares as to which the person has:  
          (i) Sole power to vote or to direct the vote:       
         

Nathan D. Hukill

   0  
         

CR Group L.P.

   0  
         

CRG Partners III L.P.

   0  
         

CRG Partners III Parallel Fund “A” L.P.

   0  
         

CRG Partners III (Cayman) Unlev AIV I L.P.

CRG Partners III (Cayman) Lev AIV I L.P.

  

0

0

 
         

CRG Partners III Parallel Fund “B” (Cayman) L.P.

   0  
          (ii)  Shared power to vote or to direct the vote:       
         

Nathan D. Hukill

   72,503,592 (1)  
         

CR Group L.P.

   72,503,592 (1)  
         

CRG Partners III L.P.

   19,334,277  
         

CRG Partners III Parallel Fund “A” L.P.

   12,039,660  
         

CRG Partners III (Cayman) Unlev AIV I L.P.

   3,866,855  
     

CRG Partners III (Cayman) Lev AIV I L.P.

     37,262,800  (1) 
     

CRG Partners III Parallel Fund “B” (Cayman) L.P.

     24,157,794  (1) 
     

(iii)  Sole power to dispose or to direct the disposition of:

  
     

Nathan D. Hukill

     0  
     

CR Group L.P.

     0  
     

CRG Partners III L.P.

     0  
     

CRG Partners III Parallel Fund “A” L.P.

     0  
     

CRG Partners III (Cayman) Unlev AIV I L.P.

CRG Partners III (Cayman) Lev AIV I L.P.

    

0

0

 

 

     

CRG Partners III Parallel Fund “B” (Cayman) L.P.

     0  


CUSIP No. 89853L203    Page 11 of 14

 

     

(iv) Shared power to dispose or to direct the disposition of:

  
     

Nathan D. Hukill

     72,503,592  (1) 
     

CR Group L.P.

     72,503,592  (1) 
     

CRG Partners III L.P.

     19,334,277  
     

CRG Partners III Parallel Fund “A” L.P.

     12,039,660  
     

CRG Partners III (Cayman) Unlev AIV I L.P.

     3,866,855  
     

CRG Partners III (Cayman) Lev AIV I L.P.

     37,262,800  (1) 
     

CRG Partners III Parallel Fund “B” (Cayman) L.P.

     24,157,794  (1) 
   (1)    Includes 24,157,794 shares of Common Stock issuable upon conversion of shares of Series B Convertible Preferred Stock.   
   (2)    This percentage is calculated based on 290,195,720 shares of Common Stock issued and outstanding as of July 3, 2023, as provided by the Issuer, plus 24,157,794 shares of Common Stock issuable upon conversion of shares of Series B convertible preferred stock of the Issuer that are beneficially owned by the Reporting Persons.   
Item 5.    Ownership of Five Percent or Less of a Class  
     If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check the following  ☐
 
Item 6.    Ownership of More than Five Percent on Behalf of Another Person       
   Not applicable

 

Item 7.    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By
the Parent Holding Company or Control Person
      
   Not applicable

 

Item 8.

  Identification and Classification of Members of the Group
  Not applicable

Item 9.

  Notice of Dissolution of Group
  Not applicable

Item 10.

  Certification
    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.


CUSIP No. 89853L203    Page 12 of 14

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: July 13, 2023

 

Nathan D. Hukill

/s/ Nathan D. Hukill

An individual

CR Group L.P.

CRG Partners III L.P.

CRG Partners III Parallel Fund “A” L.P.

CRG Partners III (Cayman) Unlev AIV I L.P.

CRG Partners III (Cayman) Lev AIV I L.P.

CRG Partners III Parallel Fund “B” (Cayman) L.P.

 

By:

 

/s/ Nathan D. Hukill

 

Nathan D. Hukill, authorized signatory


CUSIP No. 89853L203    Page 13 of 14

 

EXHIBITS

 

A:    Joint Filing Agreement

 

EX-99.A
CUSIP No. 89853L203    Page 1 4 of 14

 

EXHIBIT A

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of T2 Biosystems, Inc. and further agree that this agreement be included as an exhibit to such filing. Each party to the agreement expressly authorizes each other party to file on its behalf any and all amendments to such statement. Each party to this agreement agrees that this joint filing agreement may be signed in counterparts.

In evidence whereof, the undersigned have caused this Agreement to be executed on their behalf this 13th day of July, 2023.

 

Nathan D. Hukill
/s/ Nathan D. Hukill

An individual

 

CR Group L.P.

CRG Partners III L.P.
CRG Partners III Parallel Fund “A” L.P.
CRG Partners III (Cayman) Unlev AIV I L.P.
CRG Partners III (Cayman) Lev AIV I L.P.
CRG Partners III Parallel Fund “B” (Cayman) L.P.

 

By:

 

/s/ Nathan D. Hukill

 

Nathan D. Hukill, authorized signatory