San Diego-based Tandem Diabetes Care Inc. has set the terms for its $100 million IPO, offering 7.1 million shares at a price of $13 to $15.
According to estimates from Renaissance Capital, this could mean that at the midpoint of the proposed range, Tandem Diabetes Care would command a market value of $329 million.
The company, founded in 2006, develops insulin dispensing devices that have the look and feel of a smartphone. Tandem brought in $21 million in sales for the 12 months ended Sept. 30. It plans to list on the Nasdaq under ticker symbol TNDM.
— SDBJ Staff Report