Business
Senseonics Holdings, Inc. Announces Closing of Public Offering, Including Exercise in Full of the Underwriters’ Option to Purchase Additional Shares, and Closing of Private Placement
Public offering results in gross proceeds of $57.5 millionPrivate placement results in gross proceeds of approximately $20.3 million GERMANTOWN, Md., May 21,
About this update from Senseonics Holdings, Inc.
[{"type":"text","content":"Public offering results in gross proceeds of $57.5 millionPrivate placement results in gross proceeds of approximately $20.3 million GERMANTOWN, Md., May 21, 2025 (GLOBE NEWSWIRE) -- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced the closing of its previously announced underwritten public offering of a total of 115,000,000 shares of its common stock, which included the exercise in full by the underwriters of their option to purchase up to an additional 15,000,000 shares of common stock, at a public offering price of $0.50 per share. The aggregate gross proceeds from the public offering, before deducting underwriting discounts and commissions and offering expenses were $57.5 million. All of the shares in the offering were sold by Senseonics. In connection with the public offering, Senseonics entered into a stock purchase agreement with Abbott Laboratories for the issuance of shares of Senseonics’ common stock representing 4.99% of Senseonics’ outstanding common stock following the closing of both offerings at a price per share equal to the public offering price. In the closing of the private placement, Abbott acquired 40,539,265 shares for an aggregate purchase price of approximately $20.3 million, before offering expenses. Senseonics intends to use the net proceeds from the public offering and private placement to fund the ongoing launch of Eversense 365 and continued development of pipeline products, as well as for working capital and general corporate purposes. TD Cowen and Barclays acted as joint book-running managers and RBC Capital Markets and Lake Street acted as bookrunners for the public offering. The public offering was made pursuant to a “shelf” registration statement on Form S-3, including a base prospectus (File No. 333-273882) that was originally filed with the Securities and Exchange Commission (the “SEC”) on August 10, 2023 and became effective on September 12, 2023. The offering was 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 relating to the offering has been filed with the SEC and is available on th...