The Germantown, Md.-based company said it will look to float 11.6 million shares in the offering at a price of $2.15 per share. The offering will also include a 30-day underwriter’s option to purchase an additional 1.7 million shares, which could net the company an additional $3.8 million.
Net proceeds from the offering are slated to support initial commercialization of the Eversense in the US, contingent upon its FDA approval, and to fund continued research & development of its devices.
Senseonics said it expects the offering to close on Aug. 23, according to a press release.
Shares in Senseonics are down 0.8% today, at $2.42 as of 9:52 a.m. EDT.
Earlier this week, Senseonics said it expects the FDA will convene a special panel as it considers the company’s implantable Eversense continuous glucose monitor for clearance.