Senseonics ticks down after announcing stock sale, private placement with Abbott

Shares of medtech firm Senseonics Holdings SENS.A down a penny post-market to 54 cents as it looks to raise equity

Germantown, Maryland-based maker of continuous glucose monitoring (CGM) systems commences $50 mln public offering

Co says Abbott Laboratories ABT.N agreed to buy up to $25 mln of shares in concurrent private placement

It intends to use net proceeds from both transactions to fund ongoing launch of Eversense 365, and continued development of its pipeline

TD Cowen and Barclays are jt-lead bookrunners for proposed offering, joined by RBC and Lake Street

Senseonics has ~654.3 mln shares outstanding and ~585.1 mln shares of free float, per LSEG data

SENS fell for 5th straight day on Thurs. Stock well off its 52-week high of $1.40 hit in mid-Feb