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Senseonics prices $41M common stock offering

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Senseonics prices $41M common stock offering

Senseonics Holdings Inc. priced an underwritten offering of 29,078,014 common shares at $1.41 apiece to raise $41 million in gross proceeds.

Roche Finance Ltd. and funds affiliated with New Enterprise Associates agreed to purchase 21,276,596 and 7,092,198 of the shares offered, respectively.

Senseonics plans to use the net proceeds for the commercialization and development of Eversense, a continuous glucose-monitoring system for people with diabetes.

Leerink Partners LLC is acting as the sole book-running manager for the offering, which is expected to close by June 1.