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.