| Item 1. | |
| (a) | Name of issuer:
TELA Bio, Inc. |
| (b) | Address of issuer's principal executive offices:
1 Great Valley Parkway, Suite 24, Malvern, PA 19355 |
| Item 2. | |
| (a) | Name of person filing:
This Schedule 13G is being filed on behalf of North Run Capital, LP, a Delaware limited partnership (the "Investment Manager"), North Run Advisors, LLC, a Delaware limited liability company ("North Run"), North Run - Due North Partners, LP, a Delaware limited partnership ("Due North"), North Run GP, LP, a Delaware limited partnership (the "GP"), Todd B. Hammer, Thomas B. Ellis and Michael Bosco (collectively, the "Reporting Persons"). The Investment Manager is the investment manager of certain private pooled investment vehicles, including Due North. Todd B. Hammer, Thomas B. Ellis and Michael Bosco are the limited partners of Due North. This Schedule 13G relates to shares of Common Stock, par value $0.001 per share (the "Common Stock"), of TELA Bio, Inc., a Delaware corporation (the "Issuer"), held by the Due North. |
| (b) | Address or principal business office or, if none, residence:
For all Filers: 867 Boylston St., 5th Floor #1361, Boston, MA 02116. |
| (c) | Citizenship:
(1) North Run Capital, LP is a Delaware limited partnership.
(2) North Run Advisors, LLC is a Delaware limited liability company.
(3) North Run - Due North Partners, LP is a Delaware limited partnership.
(4) North Run GP, LP is a Delaware limited partnership.
(5) Todd B. Hammer is a U.S. citizen.
(6) Thomas B. Ellis is a U.S. citizen.
(7) Michael Bosco is a U.S. citizen. |
| (d) | Title of class of securities:
Common Stock, $0.001 par value per share |
| (e) | CUSIP No.:
872381108 |
| 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: |
| (a) |  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
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| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| | |
| Item 4. | Ownership |
| (a) | Amount beneficially owned:
The Investment Manager, North Run, Todd B. Hammer, Thomas B. Ellis, Michael Bosco, Due North and the GP may be deemed the beneficial owners of 1,982,489 shares of Common Stock as of January 24, 2025. |
| (b) | Percent of class:
The Investment Manager, North Run, Todd B. Hammer, Thomas B. Ellis, Michael Bosco, Due North and the GP may be deemed the beneficial owners of approximately 5.0% of the outstanding shares of Common Stock as of January 24, 2025. The percent of class is based upon 39,388,440 shares of Common Stock outstanding as of November 1, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2024. |
| (c) | Number of shares as to which the person has:
|
| | (i) Sole power to vote or to direct the vote:
Not applicable.
|
| | (ii) Shared power to vote or to direct the vote:
The Investment Manager, North Run, Todd B. Hammer, Thomas B. Ellis, Michael Bosco, Due North and the GP have the shared power to vote the 1,982,489 shares of Common Stock beneficially owned as of January 24, 2025.
|
| | (iii) Sole power to dispose or to direct the disposition of:
Not applicable.
|
| | (iv) Shared power to dispose or to direct the disposition of:
The Investment Manager, North Run, Todd B. Hammer, Thomas B. Ellis, Michael Bosco, Due North and the GP have the shared power to dispose of the 1,982,489 shares of Common Stock beneficially owned as of January 24, 2025.
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| Item 5. | Ownership of 5 Percent or Less of a Class. |
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
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Not Applicable
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. |
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Not Applicable
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| Item 9. | Notice of Dissolution of Group. |
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Not Applicable
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Rule 13d-1(c)