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 offering is being made pursuant to an effective shelf registration statement. Before you invest, you should read the base prospectus in such shelf registration statement, the prospectus supplement, when available, and other documents we have filed with the Securities and Exchange Commission for more complete information about us and this offering. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to the offices of Canaccord Adams, Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, phone: (800) 225-6201. Alternatively, you may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the 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.
About DexCom, Inc.
DexCom, Inc., headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems for use by patients at home and by healthcare providers in the hospital.
Cautionary Statement Regarding Forward Looking Statements
DexCom is a medical device company with a limited operating history. Successful commercialization of the company's products is subject to numerous risks and uncertainties, including a lack of acceptance in the marketplace by physicians and patients, the inability to manufacture products in commercial quantities at an acceptable cost, possible delays in the company's development programs, the inability of patients to receive adequate reimbursements from third-party payors and inadequate financial and other resources. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the company's quarterly report on Form 10-Q for the period ending September 30, 2009, as filed with the Securities and Exchange Commission on November 4, 2009.
Chief Administrative Officer
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