Senseonics Holdings, Inc. Announces Pricing of Public Offering of Common Stock
August 18 2017 - 8:56AM
Business Wire
Senseonics Holdings, Inc. (NYSE MKT: SENS), a medical technology
company focused on the development and commercialization of
Eversense®, a long-term, implantable continuous glucose monitoring
(CGM) system for people with diabetes, today announced the pricing
of its previously announced underwritten public offering.
Senseonics is offering 11,637,500 shares of its common stock, par
value $0.001 per share, at a price to the public of $2.15 per
share. In connection with the offering, Senseonics has also granted
the underwriter a 30-day option to purchase up to an additional
1,745,625 shares of common stock offered in the public offering to
cover over-allotments, if any. Senseonics intends to use the net
proceeds from the offering primarily to begin commercialization of
Eversense in the United States, if approved, to fund continued
research and development of future configurations of Eversense, and
for working capital and general corporate purposes. The offering is
expected to close on August 23, 2017, subject to the satisfaction
or waiver of customary closing conditions.
National Securities Corporation, a wholly owned subsidiary of
National Holdings Corporation (NasdaqCM: NHLD), is acting as sole
book-running manager for the offering.
A shelf registration statement relating to the shares of common
stock offered in the underwritten public offering described above
was filed with the Securities and Exchange Commission (“SEC”) on
April 3, 2017 and declared effective by the SEC on April 17, 2017.
The offering is being made only by means of a written prospectus
and prospectus supplement that form a part of the registration
statement. A final prospectus supplement and accompanying
prospectus will be filed with the SEC and will be available on the
SEC’s website at www.sec.gov. Copies of the final prospectus
supplement and accompanying prospectus, when available, may be
obtained by contacting the book-running manager at the following
address:
National Securities Corporation200 Vesey St, 25th FloorNew York,
NY 10281Attn: Marguerite RogersTelephone:
(212)-417-8227Email: prospectusrequest@nationalsecurities.com
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of Senseonics, and
shall not constitute an offer, solicitation or sale of any security
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 Senseonics
Senseonics Holdings, Inc. is a medical technology company
focused on the design, development and commercialization of glucose
monitoring products designed to help people with diabetes
confidently live their lives with ease. Senseonics’ first
generation continuous glucose monitoring (CGM) system, Eversense®,
includes a small sensor, smart transmitter and mobile application.
Based on fluorescence sensing technology, the sensor is designed to
be inserted subcutaneously and communicate with the smart
transmitter to wirelessly transmit glucose levels to a mobile
device. After insertion, the sensor is designed to continually and
accurately measure glucose levels.
Forward-Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Senseonics, including statements about the
closing of the offering, anticipated use of proceeds and other
statements containing the words “expect,” “intend,” “may,” “will,”
and similar expressions, constitute forward-looking statements
within the meaning of The Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those indicated
by such forward-looking statements as a result of various important
factors, including: the uncertainties related to market conditions
and the completion of the underwritten public offering on the
anticipated terms or at all, uncertainties inherent in the expanded
commercial launch of Eversense and such other factors as are set
forth in the risk factors detailed in Senseonics’ Annual Report on
Form 10-K for the year ended December 31, 2016, Senseonics’
Quarterly Report on Form 10-Q for the quarter ended June 30, 2017
and Senseonics’ other filings with the SEC under the heading “Risk
Factors.” In addition, the forward-looking statements included in
this press release represent Senseonics’ views as of the date
hereof. Senseonics anticipates that subsequent events and
developments will cause Senseonics’ views to change. However, while
Senseonics may elect to update these forward-looking statements at
some point in the future, Senseonics specifically disclaims any
obligation to do so except as required by law. These
forward-looking statements should not be relied upon as
representing Senseonics’ views as of any date subsequent to the
date hereof.
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version on businesswire.com: http://www.businesswire.com/news/home/20170818005268/en/
Senseonics Holdings, Inc.R. Don Elsey, 301-556-1602Chief
Financial Officer
Senseonics (AMEX:SENS)
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