Tandem negotiates repurchase of $246.7 million convertibles due 2025

Chicago, March 6 – Tandem Diabetes Care Inc. announced that in connection with a new offering of 1.5% five-year convertibles, the company has privately negotiated the repurchase of $246.7 million face amount of its 1.5% convertible senior notes due 2025, according to a press release.

The notes will be purchased for cash.

If the greenshoe is exercised on the new offering, the company may make additional repurchases of the 2025 notes from time to time, or may repay the notes at maturity with the proceeds.

Tandem Diabetes is a San Diego-based medical device company.

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