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 18,000,000 shares of its common stock at a price to the
public of $1.25 per share. The gross proceeds to Tandem from this
offering are expected to be $22.5 million, before 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 2,700,000
shares of common stock at the public offering price, less the
underwriting discount. The offering is expected to close on or about
March 28, 2017, subject to customary closing conditions.
Piper Jaffray & Co. is acting as the sole book‐running manager for the
offering. Oppenheimer & Co., Inc. and Wedbush PacGrow are acting as
co‐managers.
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 March 8, 2017 and declared effective by the
SEC on March 22, 2017. 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 offering may
be obtained from: Piper Jaffray & Co. at 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, Attention: Prospectus Department, or by calling
800-747-3924, or by emailing prospectus@pjc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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. 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 and sells the t:slim X2™
Insulin Pump, the slimmest and smallest durable insulin pump currently
on the market, the t:flex® Insulin Pump, the first pump designed for
people with greater insulin requirements, and the t:slim G4™ Insulin
Pump, the first continuous glucose monitoring-enabled pump with
touchscreen simplicity. Tandem is based in San Diego, California.
t:flex and Tandem Diabetes Care are registered trademarks, and t:slim X2
and t:slim G4 are trademarks of Tandem Diabetes Care, Inc.
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. These forward-looking statements
include statements regarding the proposed follow-on public offering,
including the actual net proceeds to be raised in the offering and the
expected closing date of the offering. 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
related to the proposed 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170323005433/en/
Media:
The Sabicer Group
Steve Sabicer
714-907-6264
ssabicer@thesabicergroup.com
or
Investors:
Tandem
Diabetes Care, Inc.
Susan Morrison
858-366-6900 x7005
smorrison@tandemdiabetes.com
Source: Tandem Diabetes Care, Inc.
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