29 03 2016

Senseonics Holdings, Inc. $45 Million Initial Public Offering

Covington advised the underwriters in the $45 million initial public offering of common stock of Senseonics Holdings, Inc.


Senseonics Holdings offered 15,800,000 shares of our common stock at $2.85 per share. Shares of the company trade on the NYSE MKT under the ticker “SENS.”  Leerink Partners and Canaccord Genuity acted as Joint Book-Running Managers; Raymond James acted as Lead Manager; BTIG acted as Co-Manager. Senseonics develops continuous glucose monitoring systems for patients with diabetes. Its Eversense product consists of an implanted sensor linked to a mobile app that is designed to continually and to accurately measure glucose levels for an extended period of time. Senseonics plans to use the proceeds from the offering to complete its pivotal U.S. clinical trial, seek regulatory approval of Eversense in the United States and fund continued research and development of future configurations of Eversense. The Covington corporate team included partners Brian Rosenzweig (Picture) and Don Murray and associates Mark Johnson, John Mei and Laura Torre. Assistance was provided by special counsel Marianne McKeon (FINRA); senior counsel Peter Safir and associate Christina Kuhn (U.S. regulatory); partner Grant Castle and associate Hannah Billson (EU regulatory); of counsels Esther Scherb and Anna Kraus (reimbursement); partner Paul Berman, special counsel Melody Wu and associate Heng Gong (IP); partner Rob Heller (tax); and partner Gus Caywood (legal opinion matters). Involved fees earner: Brian Rosenzweig - Covington & Burling; Donald Murray - Covington & Burling; Mark Johnson - Covington & Burling; John Mei - Covington & Burling; Laura Torre - Covington & Burling; Marianne McKeon - Covington & Burling; Peter Safir - Covington & Burling; Christina Kuhn - Covington & Burling; Grant Castle - Covington & Burling; Hannah Billson - Covington & Burling; Esther Scherb - Covington & Burling; Anna Kraus - Covington & Burling; Paul Berman - Covington & Burling; Melody Wu - Covington & Burling; Heng Gong - Covington & Burling; Robert Heller - Covington & Burling; Warren Caywood Jr. - Covington & Burling;

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