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 (i) 4,630,000 shares of its common stock, (ii) Series A
warrants to purchase 4,630,000 shares of its common stock and (iii)
Series B warrants to purchase 4,630,000 shares of its common stock, for
gross proceeds of approximately $16.2 million, at a public offering
price of $3.50 per share and accompanying warrants. The Series A
warrants have an exercise price of $3.50 per share, are immediately
exercisable and will expire on the fifth anniversary of the date of
issuance. The Series B warrants have an exercise price of $3.50 per
share, are immediately exercisable and will expire on the six-month
anniversary of the date of issuance. The shares of common stock and the
warrants will be immediately separable and will be issued separately.
All of the shares of common stock and warrants to be sold in the
offering are being offered by Tandem.
Tandem intends to use the net proceeds from the proposed offering for
working capital and other general corporate purposes. The offering is
expected to close on or about October 17, 2017, subject to customary
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.
This offering is being made pursuant to a shelf registration statement
on Form S-3 that was previously filed by Tandem with the Securities and
Exchange Commission and declared effective on December 19, 2014. A
preliminary prospectus supplement and accompanying prospectus describing
the terms of the proposed offering has been filed with the Securities
and Exchange Commission (SEC) and will form a part of the effective
registration statement and a final prospectus supplement will be filed
with the SEC. When available, copies of the final prospectus supplement
and the accompanying 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
Electronic copies of the final prospectus supplement and accompanying
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. (www.tandemdiabetes.com)
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, California.
Follow Tandem Diabetes Care on Facebook at www.facebook.com/TandemDiabetes.
Tandem Diabetes Care on LinkedIn at https://www.linkedin.com/company/tandemdiabetes.
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 closing of the public offering, the anticipated proceeds
from the offering and other statements that are not purely statements of
historical fact. Such forward-looking statements are based on the
Company's current expectations and involve assumptions that may never
materialize or may prove to be incorrect. Actual results, and the timing
of events, may differ materially from those indicated by such
forward-looking statements due to numerous risks and uncertainties,
including the Company's ability to satisfy closing conditions related to
the proposed offering. Other risks and uncertainties are identified in
the final prospectus supplement and accompanying prospectus relating to
the proposed offering, the Company's most recent Annual Report on Form
10-K and Quarterly Report on Form 10-Q, and other documents that the
Company files with the Securities and Exchange Commission including the
Registration Statement on Form S-3 (File No. 333-200686) for the
offering. 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, Tandem undertakes no obligation to update or revise
any forward-looking statement in this press release because of new
information, future events or other factors.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171013005150/en/
Tandem Diabetes Care, Inc.
Susan Morrison, 858-366-6900 x7005
Source: Tandem Diabetes Care, Inc.
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