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Washington, D.C. 20549









Date of Report (Date of earliest event reported): January 17, 2021


(Exact Name of Registrant as Specified in its Charter)

Delaware   001-37717   47-1210911
(State or Other
Jurisdiction of Incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)


20451 Seneca Meadows Parkway
Germantown, MD 20876-7005
(Address of Principal Executive Office) (Zip Code)


Registrant's telephone number, including area code: (301) 515-7260


Not Applicable

Former name or former address, if changed since last report


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):


¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:


Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.001 par value SENS NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨







Item 1.01

Entry Into a Material Definitive Agreement.


On January 17, 2021, Senseonics Holdings, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional purchasers (the “Purchasers”), pursuant to which the Company offered to the Purchasers, in a registered direct offering (the “Registered Direct Offering”), an aggregate of 40,000,000 shares (the “Shares”) of common stock, $0.001 par value per share. The Shares will be sold at a purchase price of $1.25 per share for aggregate gross proceeds to the Company of $50 million, before deducting fees to the placement agent and other estimated offering expenses payable by the Company. The Shares are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was originally filed with the Securities and Exchange Commission on November 27, 2019, and was declared effective on December 20, 2019 (Reg. No. 333-235297).


On January 15, 2021, the Company entered into an engagement letter (the “Engagement Letter”) with H.C. Wainwright & Co., LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to serve as the exclusive placement agent for the Company, on a reasonable best efforts basis, in connection with the Registered Direct Offering. The Company has agreed to pay the Placement Agent an aggregate cash fee equal to 6.5% of the gross proceeds received in the Registered Direct Offering and a management fee of 1.0% of the gross proceeds received in the Registered Direct Offering. The Company will also reimburse the Placement Agent for certain expenses incurred by the Placement Agent in connection with the offering.


The net proceeds to the Company from the Registered Direct Offering, after deducting the Placement Agent’s fees and expenses and the estimated offering expenses payable by the Company, are expected to be approximately $46 million. The Registered Direct Offering is expected to close on or about January 21, 2021, subject to the satisfaction of customary closing conditions. The Company currently intends to use the net proceeds for general corporate purposes.


The legal opinion of Cooley LLP relating to the legality of the issuance and sale of the Shares in the Registered Direct Offering will be filed on or before January 21, 2021 with an amendment to this Current Report on Form 8-K.


The description of terms and conditions of the form of Purchase Agreement and the Engagement Letter do not purport to be complete and are qualified in their entirety by the full text of the form of Purchase Agreement and the Engagement Letter, which are attached hereto as Exhibits 10.1 and 99.1, respectively.



Item 7.01 Regulation FD Disclosure.


On January 17, 2021, the Company issued a press release announcing the pricing of the Registered Direct Offering described above, a copy of which is furnished as Exhibit 99.2 to this report.


The information set forth in this Item 7.01 and contained in the Press Release furnished as Exhibit 99.2 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.





Item 9.01 Financial Statements and Exhibits. 


(d) Exhibits


  Number   Exhibit Description
  5.1*   Opinion of Cooley LLP
  10.1   Form of Securities Purchase Agreement
  23.1*   Consent of Cooley LLP (included in Exhibit 5.1)
  99.1   Engagement Letter, dated as of January 15, 2021, by and between Senseonics Holdings, Inc. and H.C. Wainwright & Co., LLC
  99.2   Press release, dated as of January 17, 2021
  104   Cover Page Interactive Data File (embedded within the Inline XBRL document).


* To be filed by amendment.







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: January 19, 2021 SENSEONICS HOLDINGS, INC.
  By: /s/ Nick Tressler
  Name:   Nick Tressler
  Title: Chief Financial Officer