Insulet Corp. (NSDQ:PODD) has two offerings coming down the pike.
On the heels of its $63 million acquisition of Neighborhood Diabetes Inc., Insulet announced plans to offer $110 million principal amount of convertible senior notes due 2016, pursuant to SEC approval.
The Bedford, Mass.-based company will offer its underwriters an option to purchase up to another $16.5 million principal in notes to cover over-allotments.
Interest rates on the notes have not yet been defined.
In addition, company stockholders who received about 1.2 million shares of Insulet stock in connection with the acquisition of Neighborhood Diabetes intend to offer more than 1.1 million of them for sale.
The maximum value of the stockholder sale is expected to be about $23 million, with a maximum share price of $19.28, according to SEC filings.
Insulet share price came in at $20.49 in after hours trading on June 22.
The company plans to use the proceeds from its offering for general corporate purposes, including possible repurchase of debt securities, according to the release.