(Source: MARKETWIRE)
Insulet Corporation (NASDAQ: PODD) today announced the pricing of
its public offering of 6,000,000 shares of common stock at $10.25 per
share. Insulet has granted the underwriters an option to purchase up
to an additional 900,000 shares of common stock to cover any
over-allotments. Insulet currently expects to use the net proceeds
of this offering for general corporate purposes, which may include
the repayment of certain outstanding debt obligations.
J.P. Morgan Securities Inc. is acting as sole book-running manager of
the offering and Canaccord Adams Inc. and JMP Securities LLC are
acting as co-managers of the offering.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission. This press release does not constitute an offer to sell
or a solicitation of an offer to buy securities nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Copies of the prospectus supplement and accompanying
prospectus may be obtained by contacting Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; or by calling
(681) 254-1735.
About Insulet Corporation
Insulet Corporation is an innovative medical device company dedicated
to improving the lives of people with diabetes. The Company's OmniPod
Insulin Management System is a revolutionary, discreet and easy-to-use
insulin infusion system that features two easy-to-use parts with no
tubing and fully-automated cannula insertion. Through the OmniPod
System, Insulet seeks to expand the use of continuous subcutaneous
insulin infusion (CSII) therapy among people with insulin-dependent
diabetes. Founded in 2000, Insulet is based in Bedford, MA.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Federal securities laws. These forward-looking
statements are based on Insulet's current expectations and beliefs
concerning future developments and their potential effects on it.
There can be no assurance that future developments affecting it will
be those that it has anticipated. These forward-looking statements
involve a number of risks, uncertainties (some of which are beyond
its control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, the risks and
uncertainties described in the section entitled "Risk Factors" in
Insulet's Annual Report on Form 10-K, which was filed with the
Securities and Exchange Commission on March 16, 2009, and in the
section entitled "Risk Factors" in Insulet's Quarterly Report on Form
10-Q, which was filed on October 26, 2009, and in its other filings
from time to time with the Securities and Exchange Commission. Should
one or more of these risks or uncertainties materialize, or should
any of its assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. Insulet undertakes no obligation to publicly update or
revise any forward-looking statements.
Contact:
Stephanie Marks for Insulet Corporation
Email Contact
877-PODD-IR1 (877-763-3471)
SOURCE: Insulet
A service of YellowBrix, Inc.
