By Katherine Hamilton
Senseonics shares slid after the company announced the pricing of its planned underwritten public offering.
Shares fell 24% to $5.04 on Friday, at one point touching a 52-week low of $4.96. The stock has lost 9% of its value this year.
The maker of implantable glucose trackers said late Thursday night it would price its underwritten public offering of 8 million shares at $5 apiece. It is also offering 8 million pre-funded warrants for just under $5 apiece.
Senseonics expects proceeds to be $80 million.
It has granted underwriters a 30-day option to buy up to an additional 2.4 million shares at the public offering price, less underwriting discounts and commissions.
The offering is set to close May 4.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
05-01-26 1437ET
