San Diego-based Tandem Diabetes Care Inc. has upped the ante of its previously announced initial public offering, increasing the targeted goal from $100 million to $120 million.
The company will release 8 million shares priced $15 apiece. Earlier this month, the company planned on releasing 7.1 million shares priced at $13 to $15 per share.
The shares are expected to begin trading Nov. 14 on the Nasdaq Global Market under ticker symbol TNDM. The offering is expected to close on Nov. 19.
The company, founded in 2006, develops insulin dispensing devices that have the look and feel of a smartphone. Tandem brought in $21 million in sales for the 12 months ended Sept. 30.
— SDBJ Staff Report