Insulet drums up $85M from Cannacord Genuity

January 14, 2013 by MassDevice staff

Insulet raises $85 million in a private placement with Cannaccord Genuity.

insulet logo

Insulet (NSDQ:PODD) inked a private placement deal with Canaccord Genuity for $85 million worth of its common stock.

The Bedford, Mass.-based insulin management company said it plans to use the fund for marketing its OmniPod insulin pump and product development,
the company said.

Sign up to get our free newsletters delivered right to your inbox.

Canaccord Genuity might underwrite a 30-day option to purchase another 15% of shares offered, according to a press release.

Last month, Insulet landed an FDA nod for the next-generation OmniPod insulin pump, which is about 38% smaller and 25% lighter while maintaining the same features as existing devices.

Comments

Built on an AdaptiveTheme using Drupal by Michael Knapp  mknapp