Senseonics said today it closed its merger with ASN Technologies.
As part of the buy, ASN Technologies changed its name to Senseonics Holdings and “disposed” of its legacy business through selling assets and liabilities to its former sole officer Daniel Davis in exchange for forgiveness of debt.
“The completion of the merger marks a significant milestone for Senseonics as we debut as a public company, backed by a group of highly regarded investors who support our pursuit to commercialize our continuous glucose monitoring system for people with diabetes,” CEO Tim Goodnow said in a press release.
The combined company said it expects its common stock to begin trading on the OTCBB under the symbol “SENS” following Financial Industry Regulatory Authority approval.
Senseonics shareholders received approximately 2.1 shares of ASN tech stock in exchange for each share of Senseonics they held.
The company will continue to operate under Senseonics CEO Dr. Tim Goodnow, with a 7-person board comprised of Stephen DeFalco, Dr. Jim Barrett, Doug Roeder, Doug Prince, Ed Fiorentino, DR. Justin Klein, and Dr. Goodnow, the company said.