BEDFORD, MA -- 10/28/09 --
Insulet Corporation (NASDAQ: PODD) today
announced that it will initiate, subject to market conditions, an
underwritten public offering of 5,500,000 shares of common stock under an
effective shelf registration statement on file with the Securities and
Exchange Commission. It is currently anticipated that the underwriters will
be granted an over-allotment option to purchase up to an additional 825,000
shares of common stock.
J.P. Morgan Securities Inc. is acting as sole book-running manager of the
offering. The company currently expects to use the net proceeds of this
offering for general corporate purposes, which may include the repayment of
certain outstanding debt obligations.
The offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission. This press
release does not constitute an offer to sell or a solicitation of an offer
to buy 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
or jurisdiction. Copies of the prospectus supplement and accompanying
prospectus may be obtained by contacting Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717; or by calling (681) 254-1735.
About Insulet Corporation
Insulet Corporation is an innovative medical device company dedicated to
improving the lives of people with diabetes. The Company's OmniPod Insulin
Management System is a revolutionary, discreet and easy-to-use insulin
infusion system that features two easy-to-use parts with no tubing and
fully-automated cannula insertion. Through the OmniPod System, Insulet
seeks to expand the use of continuous subcutaneous insulin infusion (CSII)
therapy among people with insulin-dependent diabetes. Founded in 2000,
Insulet is based in Bedford, MA.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the Federal securities laws. These forward-looking statements are based
on Insulet's current expectations and beliefs concerning future
developments and their potential effects on it. There can be no assurance
that future developments affecting it will be those that it has
anticipated. These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond its control) or other assumptions
that may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking statements. These
risks and uncertainties include, but are not limited to, the risks and
uncertainties described in the section entitled "Risk Factors" in Insulet's
Annual Report on Form 10-K, which was filed with the Securities and
Exchange Commission on March 16, 2009, and in the section entitled "Risk
Factors" in Insulet's Quarterly Report on Form 10-Q, which was filed on
October 26, 2009, and in its other filings from time to time with the
Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize, or should any of its assumptions prove
incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. Insulet undertakes no
obligation to publicly update or revise any forward-looking statements.
Contact:
Stephanie Marks for Insulet Corporation
Email Contact
877-PODD-IR1 (877-763-3471)
