Senseonics prices $25m offering

Senseonics (NYSE:SENS) today priced an upcoming offering, looking to raise approximately $25 million to support its Eversense long-term implantable continuous glucose monitoring system. The Germantown, Md.-based company said it will look to float 11.6 million shares in the offering at a price of $2.15 per share. The offering will also include a 30-day underwriter’s option to purchase an additional 1.7 million shares, which could net the company an additional $3.8 million. Net proceeds from the offering are slated to support initial commercialization of the Eversense in the US, contingent upon its FDA approval, and to fund continued research & development of its devices. Senseonics said it expects the offering to close on Aug. 23, according to a press release. Shares in Senseonics are down 0.8% today, at $2.42 as of 9:52 a.m. EDT. Earlier this week, Senseonics said it expects the FDA will convene a special panel as it considers the company’s implantable Eversense continuous glucose monitor for clearance. See the best minds in medtech live at DeviceTalks Boston on Oct. 2.  The post Senseonics prices $25m offering appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Diabetes Wall Street Beat Senseonics Source Type: news