SAN DIEGO, Feb. 26, 2015 /PRNewswire/ -- Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and manufacturer of the t:slim® and t:flex™ Insulin Pumps, today announced the pricing of an underwritten public offering of 5,250,000 shares of its common stock at a price to the public of $11.50 per share. The net proceeds to Tandem from this offering are expected to be $56.3 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Tandem. All of the shares of common stock to be sold in the offering are being offered by Tandem. In addition, Tandem has granted the underwriters a 30-day option to purchase up to an additional 787,500 shares of common stock. The offering is expected to close on or
about March 4, 2015, subject to customary closing conditions.
BofA Merrill Lynch and Piper Jaffray are acting as joint book-running managers for the offering. Deutsche Bank Securities and Stifel are acting as co-managers.
This offering is made pursuant to a shelf registration statement on Form S-3 that was filed by Tandem with the Securities and Exchange Commission (SEC) and declared effective on December 19, 2014. This offering is being made only by means of a prospectus supplement and an accompanying prospectus. When available, copies of the final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering may be obtained from: BofA Merrill Lynch, 222 Broadway, New York, NY 10038 Attention: Prospectus Department, by email at dg.Prospectus_Requests@baml.com; or Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet
Mall, J12S03, Minneapolis, MN 55402, via telephone at 800-747-3924 or by email at prospectus@pjc.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com) is a medical device company with an innovative, user-centric and integrated approach to the design, development and commercialization of products for people with diabetes who use insulin. The Company manufactures the t:slim Insulin Pump, the slimmest and smallest durable insulin pump currently on the market, and the t:flex Insulin Pump, the first pump designed for people with greater insulin requirements. Tandem is based in San Diego, California.
Forward Looking Statement
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. In particular, investors are cautioned that certain statements in this press release regarding the proposed underwritten public offering, including the anticipated net proceeds to be raised in the offering and the expected closing date of the offering are forward-looking statements. 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. The Company's actual results,
and the timing of events, could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including: market conditions; Tandem's ability to satisfy the closing conditions related to the offering; unanticipated expenses associated with the offering; possible future actions of the U.S. Food and Drug Administration or any other regulatory body or governmental authority; and other risks identified in the Company's most recent Annual Report on Form 10-K, as well as 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. All forward-looking statements in this release speak only as of the date on which they were made. Unless otherwise required by applicable securities laws, Tandem does not
intend, nor does it undertake any obligation, to update or revise any forward-looking statement in this press release because of new information, future events or circumstances or other factors.
t:flex is a trademark, and t:slim and Tandem Diabetes Care are registered trademarks of Tandem Diabetes Care, Inc.
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SOURCE Tandem Diabetes Care, Inc.
