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news.DexCom, a medical device company, has announced the public offering of 15.84 million shares of its common stock at a price of $3 per share.
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Terrance Gregg, DexCom’s president and CEO, is also purchasing 150,000 additional shares of common stock in this offering at a price per share of $3.12, which represents the last reported bid price on the Nasdaq global market of DexCom’s common stock on January 29, 2009.
The gross proceeds to DexCom, before expenses, from the sale of shares are expected to be $48 million. The closing of the offering is expected to take place on February 4, 2009. Piper Jaffray acted as sole manager for the offering.