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Tandem Diabetes closes common stock, warrants offering

Tandem Diabetes Care Inc. closed its public offering of 4,630,000 common shares as well as series A and series B warrants at $3.50 apiece with expected net proceeds of about $14.8 million.

Each common share comes bundled with the two warrants, each to purchase an additional stock in the company for $3.50 apiece.

The net proceeds will be used for working capital and general corporate purposes.

Oppenheimer & Co. Inc. acted as the sole book-running manager for the offering. National Securities Corp. acted as co-manager.