Tandem Diabetes smashes IPO target
This article was originally published in Clinica
Insulin pump developer Tandem Diabetes Care has not only successfully launched its initial public offering but the amount it raised exceeded expectations to boot. The company sold eight million shares at $15 each, the top end of its pricing range; the $120m it raised in total beat the $92-106m it had been hoping to get by selling 7.1 million shares at $13-15 each. Tandem’s achievement could perhaps allay fears that the medtech/biotech IPO window – which has been open for some time – may be starting to close.