Insulet (PODD) to Offer 5.5M Common Shares
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Insulet Corporation (NASDAQ: PODD) today announced that it will initiate, subject to market conditions, an underwritten public offering of 5,500,000 shares of common stock under an effective shelf registration statement on file with the Securities and Exchange Commission. It is currently anticipated that the underwriters will be granted an over-allotment option to purchase up to an additional 825,000 shares of common stock.
J.P. Morgan Securities Inc. is acting as sole book-running manager of the offering. The company currently expects to use the net proceeds of this offering for general corporate purposes, which may include the repayment of certain outstanding debt obligations.
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