SAN DIEGO--(BUSINESS WIRE)--
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and
manufacturer of the only touchscreen insulin pumps available in the
United States, today announced the pricing of an underwritten public
offering of 30 million shares of its common stock at a price to the
public of $2.00 per share. The gross proceeds to Tandem from this
offering are expected to be $60 million, before deducting underwriting
discounts and commissions and other estimated offering expenses payable
by Tandem. In addition, Tandem has granted the underwriters a 30-day
option to purchase up to 4.5 million additional shares of common stock.
All of the shares of common stock to be sold in the offering are being
offered by Tandem. The offering is expected to close on or about
February 13, 2018, subject to the satisfaction of customary closing
Oppenheimer & Co. Inc. is acting as the sole book‐running manager for
the offering. National Securities Corporation, a wholly owned subsidiary
of National Holdings Corporation (NasdaqCM: NHLD), is acting as a
co-manager in connection with the offering.
The offering is being made by Tandem pursuant to a registration
statement on Form S-1 originally filed with the Securities and Exchange
Commission (the "SEC") on January 16, 2018 and declared effective by the
SEC on February 8, 2018. The offering is being made only by means of a
prospectus that forms a part of the registration statement. When
available, copies of the final prospectus relating to the securities
being offered may be obtained from: Oppenheimer & Co. Inc. Attention:
Syndicate Prospectus Department, 85 Broad St., 26th Floor,
New York, NY 10004, by telephone at (212) 667-8563 or by email at EquityProspectus@opco.com.
Electronic copies of the final prospectus will also be available on the
Securities and Exchange Commission's website at www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities 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. The offering will be made only by means of a
prospectus that forms a part of the registration statement.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. is a medical device company dedicated to
improving the lives of people with diabetes through relentless
innovation and revolutionary customer experience. The Company takes an
innovative, user-centric approach to the design, development and
commercialization of products for people with diabetes who use insulin.
Tandem manufactures and sells the t:slim X2™ Insulin Pump, the only pump
capable of remote feature updates using a personal computer, now
available with Dexcom G5® Mobile continuous glucose monitoring (CGM)
integration, and the t:flex® Insulin Pump, the first pump designed for
people with greater insulin requirements. Tandem is based in San Diego,
t:flex and Tandem Diabetes Care are registered trademarks, and t:slim X2
is a trademark of Tandem Diabetes Care, Inc. Dexcom G5 is a registered
trademark of Dexcom, Inc.
Forward Looking Statements
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that
concern matters that involve risks and uncertainties that could cause
actual results to differ materially from those anticipated or projected
in the forward-looking statements. These forward-looking statements
include statements regarding the public offering, including regarding
the net proceeds to be raised and the expected closing date. The
Company's actual results, and the timing of events, could differ
materially from those indicated in these forward-looking statements due
to numerous risks and uncertainties, including the Company's actual
expenses associated with the offering and the Company's ability to
satisfy closing conditions relating to the offering. In addition, the
Company's results may be impacted by the other risks identified in the
Company's Registration Statement on Form S-1 relating to the offering,
and other documents that the Company files with the Securities and
Exchange Commission. Investors are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of
this release. Unless otherwise required by applicable law or the rules
of the NASDAQ Stock Market, the Company undertakes no obligation to
update or review any forward-looking statement in this press release
because of new information, future events or other factors.
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Source: Tandem Diabetes Care, Inc.
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