Tandem Diabetes steadies after boosted $265 mln convertible bonds sale

Tandem Diabetes Care

25/02/2026 13:57

** Tandem Diabetes Care TNDM.O shares trading around the flat line premarket after securing more capital than planned

    ** San Diego, California-based insulin delivery systems manufacturer early Weds announced pricing
    private offering of $265 mln 0% 6-yr convertible bonds

    ** Initial conversion price of $36.99 is 37.5% premium over stock's last close of $26.90

** TNDM shares fell 4.8% on Tues after co late Mon unveiled $200 mln offering for general purposes, including acquisitions or strategic investments, among other uses

** Co to use $13.5 mln of proceeds to pay cost of capped calls; initial cap price set at $47.08, 75% above stock's last close

** Through Tues, TNDM shares up 45% since co posted Q4 sales and adj operating income above LSEG estimates

** Stock up 22% YTD as of last close after 39% drop in 2025

    ** Avg rating of 24 analysts is "buy"; median PT $26, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))