The insulin-pump maker said it sold approximately 6 million shares at $11.50 apiece. Underwriters for the deal also fully exercised an option to buy 787,500 additional shares, San Diego-based Tandem said.
Bank of America Merrill Lynch and Piper Jaffray served as joint book-runners for the transaction, with Deutsche Bank Securities and Stifel as co-managers, the company said.
In late February, Tandem announced plans for the offering, saying it planned to float 5.25 million shares plus the over-allotment at $11.50 apiece.
Tandem’s latest insulin pump, the t:flex, won FDA clearance in January. Tandem also markets the t:slim pump.
TNDM shares closed up 6% at $13.43 March 4, the day it announced the offering’s close, and had held on to that mark as of market’s close yesterday.