Senseonics Holdings, Inc. (NYSE American: SENS) stock is down -6.7% to $0.1050 after a vast 31.67% surge on the previous close.
What they do…
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The medical technology company Senseonics Holdingshelps people with diabetes a confident life by designing, developing, and commercializing transformational glucose monitoring products. Senseonics’ CGM systems include a small implant that is completely embedded under the skin and communicates with a flexible transmitter worn over the implant. The glucose readings are sent automatically every 5 minutes to a smartphone app on the user’s device.
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What happened recently…
On Monday, January 18, 2021, Senseonics Holdings, Inc. (NYSE American: SENS) has reported that it has entered into securities purchases with a variety of health-care-driven and other institutional investors to acquire 40.000.000 shares of their mutual shareholding, to create and promotion of long-term, implantable continuous glucose monitoring (CGM) systems.
H.C. Wainwright & Co. serves as the sole offering placement agent.
Gross income is estimated to amount to $50.0 million due to the deduction of placement consultant fees and other offering expenditures. The organization plans to use the net profits for general purposes. On or about January 21, 2021, the registered direct bid is scheduled to expire, subject to customary closing conditions.
It has to be seen that Senseonics Holdings, Inc. (NYSE American: SENS) is down in the early morning today on this news, or it is just giving back some of what it gained on Friday.