Tandem Diabetes Care Announces Pricing of Underwritten Public Offering of Common Stock
March 23 2017 - 08:30AM
Business Wire
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device
company and manufacturer of the only touchscreen insulin pumps
available in the United States, today announced the pricing of an
underwritten public offering of 18,000,000 shares of its common
stock at a price to the public of $1.25 per share. The gross
proceeds to Tandem from this offering are expected to be $22.5
million, before deducting underwriting discounts and commissions
and other estimated offering expenses payable by Tandem. All of the
shares of common stock to be sold in the offering are being offered
by Tandem. In addition, Tandem has granted the underwriters a
30-day option to purchase up to an additional 2,700,000 shares of
common stock at the public offering price, less the underwriting
discount. The offering is expected to close on or about March 28,
2017, subject to customary closing conditions.
Piper Jaffray & Co. is acting as the sole book‐running
manager for the offering. Oppenheimer & Co., Inc. and Wedbush
PacGrow are acting as co‐managers.
The offering is being made by Tandem pursuant to a registration
statement on Form S-1 originally filed with the Securities and
Exchange Commission (the “SEC”) on March 8, 2017 and declared
effective by the SEC on March 22, 2017. The offering is being made
only by means of a prospectus that forms a part of the registration
statement. When available, copies of the final prospectus relating
to the offering may be obtained from: Piper Jaffray & Co. at
800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention:
Prospectus Department, or by calling 800-747-3924, or by emailing
prospectus@pjc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. is a medical device company with an
innovative, user-centric and integrated approach to the design,
development and commercialization of products for people with
diabetes who use insulin. The Company manufactures and sells the
t:slim X2™ Insulin Pump, the slimmest and smallest durable insulin
pump currently on the market, the t:flex® Insulin Pump, the first
pump designed for people with greater insulin requirements, and the
t:slim G4™ Insulin Pump, the first continuous glucose
monitoring-enabled pump with touchscreen simplicity. Tandem is
based in San Diego, California.
t:flex and Tandem Diabetes Care are registered trademarks, and
t:slim X2 and t:slim G4 are trademarks of Tandem Diabetes Care,
Inc.
Forward Looking Statement
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, that concern matters that involve risks and
uncertainties that could cause actual results to differ materially
from those anticipated or projected in the forward-looking
statements. These forward-looking statements include
statements regarding the proposed follow-on public offering,
including the actual net proceeds to be raised in the offering and
the expected closing date of the offering. The Company’s actual
results, and the timing of events, could differ materially from
those indicated in these forward-looking statements due to numerous
risks and uncertainties, including the Company’s actual expenses
associated with the offering and the Company’s ability to satisfy
closing conditions related to the proposed offering. In addition,
the Company’s results may be impacted by the other risks identified
in the Company’s Registration Statement on Form S-1 relating to the
offering, and other documents that the Company files with the
Securities and Exchange Commission. Investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Unless otherwise
required by applicable law or the rules of the NASDAQ Stock Market,
the Company undertakes no obligation to update or review any
forward-looking statement in this press release because of new
information, future events or other factors.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170323005433/en/
Media:The Sabicer GroupSteve
Sabicer714-907-6264ssabicer@thesabicergroup.comorInvestors:Tandem
Diabetes Care, Inc.Susan Morrison858-366-6900
x7005smorrison@tandemdiabetes.com
Tandem Diabetes Care (NASDAQ:TNDM)
Historical Stock Chart
From Feb 2024 to Mar 2024
Tandem Diabetes Care (NASDAQ:TNDM)
Historical Stock Chart
From Mar 2023 to Mar 2024