Friday, medical device company DexCom, Inc. (DXCM) announced the public offering of approximately 15.84 million shares of its common stock at $3.00 per share.
Gross proceeds to DexCom, from the offering are expected to be $48 million.
DexCom said Terrance Gregg, the company's president and chief executive officer, is buying 150 thousands additional shares in this offering at a price of $3.12 per share, which represents the last reported bid price on the NASDAQ Global Market of DexCom's common stock on January 29.
San Diego, California headquartered company said closing is expected to take place on February 4. Piper Jaffray & Co. acted as sole manager for the offering.
This offering of the shares of common stock may be made only by means of a prospectus. A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission, the company noted.
DXCM is currently up $0.27 or 8.65% and trades at $3.39.
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