GERMANTOWN, Md.--(BUSINESS WIRE)--Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and commercialization of Eversense®, a long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, today announced a proposed underwritten offering, subject to market and other conditions, of convertible senior subordinated notes due 2023 (the Notes). Senseonics also announced preliminary fourth quarter and full year 2017 financial results.

Proposed Convertible Senior Subordinated Notes Offering

The Notes will be convertible at the option of the holders into shares of Senseonics’ common stock. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of the pricing of the offering.

Senseonics intends to use a portion of the net proceeds from the offering of the Notes to begin commercialization of Eversense in the United States, if approved, to fund continued research and development of future configurations of Eversense, and for working capital and general corporate purposes.

BTIG is acting as the sole manager for the offering.

About Senseonics

Senseonics Holdings, Inc. is a medical technology company focused on the design, development and commercialization of glucose monitoring products designed to help people with diabetes confidently live their lives with ease. Senseonics’ first generation CGM system, Eversense, includes a small sensor, smart transmitter and mobile application. Based on fluorescence sensing technology, the sensor is designed to be inserted subcutaneously and communicate with the smart transmitter to wirelessly transmit glucose levels to a mobile device. After insertion, the sensor is designed to continually and accurately measure glucose levels.