DexCom (DXCM) Announces 3.5M Common Offering
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DexCom, Inc. (NASDAQ: DXCM), today announced the sale of 3.5 million shares of its common stock pursuant to an underwriting agreement with Canaccord Adams acting as the sole bookrunner. The last reported sale price of our common stock as reported by the Nasdaq Global Market on January 14, 2010 was $9.22 per share.
The Company expects to use the net proceeds from the sale of the shares for working capital and general corporate purposes. Closing of the offering is expected to occur on or about January 21, 2010, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock to cover over-allotments, if any.
The Company expects to use the net proceeds from the sale of the shares for working capital and general corporate purposes. Closing of the offering is expected to occur on or about January 21, 2010, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock to cover over-allotments, if any.
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