Senseonics Announces Commencement of $50 Million Public Offering of Common Stock and Concurrent Private Placement

Core Viewpoint - Senseonics Holdings, Inc. has initiated an underwritten public offering of its common stock, with a potential additional 15% of shares available for underwriters to purchase [1][2]. Group 1: Offering Details - The public offering is subject to market conditions and will be made under a "shelf" registration statement filed with the SEC [3]. - TD Cowen and Barclays are the joint book-running managers for the offering, with RBC Capital Markets and Lake Street acting as bookrunners [2]. - A preliminary prospectus supplement will be filed with the SEC and will be accessible on their website [3]. Group 2: Concurrent Private Placement - Abbott Laboratories has agreed to purchase up to $25 million of Senseonics' common stock in a separate private placement, contingent on the public offering's closing [4]. - The net proceeds from both the public offering and the concurrent private placement will be used to support the launch of Eversense 365, ongoing product development, and general corporate purposes [5]. Group 3: Company Overview - Senseonics is focused on developing long-term implantable continuous glucose monitoring systems for diabetes management, with products like Eversense® 365 and Eversense® E3 [8]. - The company's CGM systems feature a small sensor that is implanted under the skin and communicates glucose data to a mobile app every 5 minutes [8].