With its catalog of insulin pumps, continuous glucose monitors and other diabetes hardware, MiniMed went public on the Nasdaq this past March, claiming the ticker MMED and about $538 million in total net proceeds. Medtronic retained about 90% ownership of the spinout at the time, or more than 252.8 million shares.
Now the medtech giant said it plans to sell at least 80.1% of MiniMed’s outstanding common stock, at a 7% discount through the offering slated to run until October 9. Shareholders are expected to receive about $107.53 of MiniMed stock for every $100 of Medtronic.
