[March 30, 2017] |
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Senseonics Draws Third Tranche of Existing Loan Facility
Senseonics Holdings, Inc. (NYSE-MKT:SENS), a medical technology company
focused on the development and commercialization of a long-term,
implantable continuous glucose monitoring (CGM) system for people with
diabetes, today announced it has initiated the borrowing of the third
tranche under Senseonics' previously announced term loan facility with
Oxford Finance and Silicon Valley Bank. The third tranche of $5 million
was triggered by the first sale of Senseonics' second generation
transmitter in Europe. The closing took place on March 29, 2017.
Senseonics' previous borrowings were $20 million under the term loan.
Additionally, as previously disclosed in its Annual Report on Form 10-K
for the year ended December 31, 2016, which was filed with the
Securities and Exchange Commission (SEC (News - Alert)) on February 23, 2017,
Senseonics' audited consolidated financial statements contained an audit
opinion from its independent registered public accounting firm that
included an explanatory paragraph relating to Senseonics' ability to
continue as a going concern. This announcement is made pursuant to
NYSE-MKT Company Guide Section 610(b), which requires public
announcement of the receipt of an audit opinion containing a going
concern qualification. This announcement does not represent any change
or amendment to Senseonics' consolidated financial statements or to its
Annual Report on Form 10-K for the year ended December 31, 2016.
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 diabees 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. For
more information on Senseonics, please visit www.senseonics.com.
All trademarks used or mentioned in this release are protected by law.
Forward Looking Statements
Certain statements contained in this press release, other than
statements of fact that are independently verifiable at the date hereof,
may constitute "forward-looking statements." These forward-looking
statements reflect Senseonics' current views about its plans,
intentions, expectations, strategies and prospects, which are based on
the information currently available to Senseonics and on assumptions
Senseonics has made. Although Senseonics believes that its plans,
intentions, expectations, strategies and prospects as reflected in or
suggested by those forward-looking statements are reasonable, Senseonics
can give no assurance that the plans, intentions, expectations or
strategies will be attained or achieved. Furthermore, actual results may
differ materially from those described in the forward-looking statements
and will be affected by a variety of risks and factors that are beyond
Senseonics' control. Other risks and uncertainties are more fully
described in the section entitled "Risk Factors" in Senseonics' Annual
Report on Form 10-K filed with the SEC on February 23, 2017 and its
other SEC filings. Existing and prospective investors are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. The statements made in this press release
speak only as of the date stated herein, and subsequent events and
developments may cause Senseonics' expectations and beliefs to change.
Unless otherwise required by applicable securities laws, Senseonics does
not intend, nor do it undertake any obligation, to update or revise any
forward-looking statements contained in this news release to reflect
subsequent information, events, results or circumstances or otherwise.
While Senseonics may elect to update these forward-looking statements
publicly at some point in the future, Senseonics specifically disclaims
any obligation to do so, whether as a result of new information, future
events or otherwise, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170330006184/en/
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