Senseonics Holdings Announces Underwritten Public Offering and Private Placement

Strategic Insights -

Senseonics Holdings, Inc. has initiated an underwritten public offering, subject to market and other conditions, to issue and sell shares of its common stock. The company expects to grant the underwriters a 30-day option to purchase up to 15% of the total number of shares of common stock offered in the public offering. The proposed offering is being made pursuant to a shelf registration statement on Form S-3, which became effective on September 12, 2023. The company intends to use the net proceeds from the public offering and a concurrent private placement with Abbott Laboratories to fund the ongoing launch of Eversense 365 and continued development of pipeline products.

Key Takeaways:

  • Senseonics will offer up to $25 million of shares of its common stock in a public offering, with the option to purchase an additional 15% of the total number of shares.
  • The company will use the net proceeds from the public offering and a concurrent private placement with Abbott Laboratories to fund the ongoing launch of Eversense 365 and continued development of pipeline products.
  • The proposed offering is being made pursuant to a shelf registration statement on Form S-3, which became effective on September 12, 2023.
  • TD Cowen and Barclays are acting as joint book-running managers, while RBC Capital Markets and Lake Street are acting as bookrunners for the proposed offering.
  • Senseonics intends to fund the ongoing launch of Eversense 365 and continued development of pipeline products with the proceeds from the public offering and private placement.
  • The company has entered into a Securities Purchase Agreement with Abbott Laboratories, under which Abbott has agreed to purchase up to $25 million of shares of Senseonics common stock in a separate private placement at the public offering price.
  • The public offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed.
  • The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

Statistics:

  • Senseonics will offer up to $25 million of shares of its common stock in a public offering.
  • The company has the option to purchase an additional 15% of the total number of shares, which would bring the total offering size to up to $28.75 million.
  • The proposed offering is being made pursuant to a shelf registration statement on Form S-3, which became effective on September 12, 2023.
  • The company intends to fund the ongoing launch of Eversense 365 with up to $25 million of proceeds from the public offering and private placement.

Sources:

  • GlobeNewswire: "Senseonics Holdings, Inc. Announces Proposed Underwritten Public Offering and Private Placement"
  • SEC filing: Form S-3 registration statement (File No. 333-273882)
  • SEC filing: Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (filed with the SEC on May 8, 2025)