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Tandem Diabetes prices $16.2M offering

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Tandem Diabetes prices $16.2M offering

Tandem Diabetes Care Inc. priced its previously announced public offering of 4,630,000 shares at $3.5 apiece to raise $16.2 million in gross proceeds.

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

The medical device company plans to use proceeds from the offering, which is expected to close by Oct. 17, for general corporate purposes.

Oppenheimer & Co. Inc. is acting as the sole book-running manager of the issue, with National Securities Corp. acting as co-manager.