19 July 2019 - - US-based medical technology company Senseonics Holdings, Inc. (NYSE American: SENS) has priced a registered underwritten public offering of 22,727,273 shares of its common stock at a price to the public of USD 1.10 per share, the company said.
The gross proceeds from the offering are expected to be USD 25m, before deducting underwriting discounts and commissions and estimated offering expenses payable by Senseonics.
In addition, Senseonics has granted the underwriter a 30-day option to purchase up to an additional 3,409,090 shares of its common stock.
All of the shares sold in the offering were sold by Senseonics. The offering is expected to close on July 22, 2019, subject to customary closing conditions. Senseonics expects to use the net proceeds from the offering for working capital and general corporate purposes.
Jefferies LLC is acting as sole book-running manager for the offering.
Senseonics Holdings, Inc. is a medical technology company focused on the design, development and commercialization of transformational glucose monitoring products designed to help people with diabetes confidently live their lives with ease.
Senseonics' CGM systems, Eversense and Eversense XL, include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor.
The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.