Senseonics Holdings, Inc. Announces Closing of Public Offering, Including Exercise in Full of the Underwriters’ Option to Purchase Additional Shares, and Closing of Private Placement

Rhea-AI Summary

Senseonics Holdings (NYSE: SENS) has successfully completed two capital raising initiatives: a public offering and a private placement. The public offering raised $57.5 million through the sale of 115 million shares at $0.50 per share, including the full exercise of underwriters' option for 15 million additional shares. Additionally, Abbott Laboratories participated in a private placement, acquiring 40.5 million shares (4.99% ownership) for $20.3 million.

The combined proceeds will fund the ongoing launch of Eversense 365, their implantable continuous glucose monitoring system for diabetes patients, pipeline product development, working capital, and general corporate purposes. The offering was managed by TD Cowen, Barclays, RBC Capital Markets, and Lake Street.

[ "Total capital raise of $77.8 million strengthens company's financial position", "Strategic investment from Abbott Laboratories, a major healthcare company", "Full exercise of underwriters' option indicates strong demand", "Funds secured for Eversense 365 launch and pipeline development" ]

Positive

• None.

Negative

• Significant dilution for existing shareholders with 155.5 million new shares issued
• Low offering price of $0.50 per share suggests weak market position
• Large share issuance may put downward pressure on stock price

Insights

Healthcare Investment Analyst

Senseonics secured $77.8M through public offering and Abbott partnership, strengthening its financial position for Eversense 365 CGM commercialization.

Senseonics has successfully raised $77.8 million in combined financing through a public offering ($57.5 million) and a strategic private placement with Abbott Laboratories ($20.3 million). The company priced shares at $0.50 each, selling 115 million shares in the public market after underwriters exercised their full option for additional shares.

What's particularly notable is Abbott's involvement, acquiring 40.5 million shares representing 4.99% ownership stake in Senseonics post-offering. This investment from a major medical device company signals confidence in Senseonics' implantable CGM technology platform. Abbott, already a dominant player in the diabetes management space with its FreeStyle Libre systems, appears to be hedging its position in the CGM market through this strategic investment.

The capital infusion addresses Senseonics' immediate liquidity needs and provides essential funding for the commercial rollout of Eversense 365, the company's latest implantable continuous glucose monitoring system. The substantial dilution from issuing 155.5 million new shares (115M public + 40.5M private) will impact existing shareholders but was likely necessary given the company's cash requirements for product development and commercialization activities.

This financing significantly strengthens Senseonics' balance sheet, extending its operational runway and reducing near-term funding concerns. The specified use of proceeds for Eversense 365 launch and pipeline development demonstrates management's focus on commercializing its core technology while continuing innovation in the implantable CGM space.

• Public offering results in gross proceeds of $57.5 million
• Private placement results in gross proceeds of approximately $20.3 million

GERMANTOWN, Md., May 21, 2025 (GLOBE NEWSWIRE) -- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced the closing of its previously announced underwritten public offering of a total of 115,000,000 shares of its common stock, which included the exercise in full by the underwriters of their option to purchase up to an additional 15,000,000 shares of common stock, at a public offering price of $0.50 per share.

The aggregate gross proceeds from the public offering, before deducting underwriting discounts and commissions and offering expenses were $57.5 million. All of the shares in the offering were sold by Senseonics.

In connection with the public offering, Senseonics entered into a stock purchase agreement with Abbott Laboratories for the issuance of shares of Senseonics’ common stock representing 4.99% of Senseonics’ outstanding common stock following the closing of both offerings at a price per share equal to the public offering price. In the closing of the private placement, Abbott acquired 40,539,265 shares for an aggregate purchase price of approximately $20.3 million, before offering expenses.

Senseonics intends to use the net proceeds from the public offering and private placement to fund the ongoing launch of Eversense 365 and continued development of pipeline products, as well as for working capital and general corporate purposes.

TD Cowen and Barclays acted as joint book-running managers and RBC Capital Markets and Lake Street acted as bookrunners for the public offering.

The public offering was made pursuant to a “shelf” registration statement on Form S-3, including a base prospectus (File No. 333-273882) that was originally filed with the Securities and Exchange Commission (the “SEC”) on August 10, 2023 and became effective on September 12, 2023. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (833) 297-2926 or by email at TD.ECM_Prospectus@tdsecurities.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847, or by email at barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Senseonics

Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including without limitation statements regarding, among other things, Senseonics’ expectations about the anticipated use of proceeds from the offerings. The words “expects,” “potential,” “may,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including uncertainties relating to the current economic environment, market and other conditions; and other risks and uncertainties that are described in the Risk Factors section of Senseonics’ Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 3, 2025, Senseonics’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 8, 2025, Senseonics’ final prospectus supplement for the public offering dated May 15, 2025, filed with the SEC on May 16, 2025, and other filings Senseonics makes with the SEC from time to time. The events and circumstances discussed in such forward-looking statements may not occur, and Senseonics’ actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements contained in this press release speak only as of the date hereof, and Senseonics expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.

INVESTOR CONTACT:
Jeremy Feffer
LifeSci Advisors
investors@senseonics.com

FAQ

How much money did Senseonics (SENS) raise in their May 2025 offering?

Senseonics raised a total of $77.8 million, consisting of $57.5 million from the public offering and $20.3 million from a private placement with Abbott Laboratories.

What is the purpose of Senseonics' (SENS) 2025 capital raise?

The proceeds will fund the launch of Eversense 365 continuous glucose monitoring system, pipeline product development, working capital, and general corporate purposes.

How many shares did Abbott acquire in Senseonics (SENS)?

Abbott Laboratories acquired 40,539,265 shares, representing 4.99% of Senseonics' outstanding common stock following both offerings.

What was the price per share in Senseonics' (SENS) 2025 public offering?

The public offering price was $0.50 per share.

Who were the underwriters for Senseonics' (SENS) public offering?

TD Cowen and Barclays acted as joint book-running managers, while RBC Capital Markets and Lake Street acted as bookrunners.