Represented Tandem Diabetes Care, Inc. (NSDQ:TNDM) with its follow-on underwritten public offering of 18,500,000 shares of its common stock, including 500,000 shares sold pursuant to the partial exercise of the underwriters’ overallotment option, at a public offering price of $1.25 per share for gross proceeds of approximately $23.1 million. Tandem intends to use the proceeds from the offering for working capital and other general corporate purposes.
The offer and sale of shares was made by Tandem pursuant to a registration statement on Form S-1, which was originally filed with the Securities and Exchange Commission (SEC) on March 8, 2017, and declared effective by the SEC on March 22, 2017. The Sole Book-Running Manager was Piper Jaffray & Co. and the Co-Managers were Oppenheimer & Co. Inc. and Wedbush Securities Inc.
Tandem, based in San Diego, California, 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. Among other products, Tandem manufactures and sells the t:slim G4™ Insulin Pump, the first CGM-enabled pump with touch-screen simplicity.
The Newport Beach-based team representing Tandem included Bruce Feuchter, Ryan Wilkins, Jason Lee and Sonya Attal. Dayan Rosen (Santa Monica) advised on matters related to Tandem’s credit agreement.