BofA Merrill Lynch, Piper Jaffray, Deutsche Bank and Stifel to assist
By Devika Patel
Knoxville, Tenn., Feb. 27 – Tandem Diabetes Care, Inc. said it priced a $60.38 million public offering of stock with a $9.06 million greenshoe. The deal was announced Tuesday.
The company will sell 5.25 million common shares at $11.50 per share. The price per share is a 6.05% discount to the Feb. 26 closing share price of $12.24.
BofA Merrill Lynch and Piper Jaffray are the bookrunning managers.
Settlement is expected March 4.
Proceeds will be used for working capital and other general corporate purposes.
The medical device company is based in San Diego.
| Issuer: | Tandem Diabetes Care, Inc.
|
| Issue: | Common stock
|
| Amount: | $60,375,000
|
| Shares: | $9,056,250
|
| Shares: | 5.25 million
|
| Price: | $11.50
|
| Warrants: | No
|
| Bookrunners: | BofA Merrill Lynch and Piper Jaffray
|
| Co-managers: | Deutsche Bank Securities and Stifel
|
| Announcement date: | Feb. 24
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 4
|
| Stock symbol: | Nasdaq: TNDM
|
| Stock price: | $12.24 at close Feb. 26
|
| Market capitalization: | $282.43 million
|
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