Alameda, Calif.
Went public 10/12/01 at $19 per share
Filing Range: 6.0 million shares at $18 to $20
Offering Size: $114.0 million
Post Offering Valuation: $723.7 million
Shares Outstanding: 38.08 million shares
Underwriters: US Bancorp Piper Jaffray/SG Cowen Securities/ Thomas Weisel Partners LLC
Company Counsel: Wilson Sonsini Goodrich & Rosati
Manager Counsel: Brobeck Phleger & Harrison LLP
Auditor: Pricewaterhouse Coopers LLP
The Company:
Manufactures minimally invasive glucose monitoring equipment for diabetics. The company offers a product made to use only 300 nanoliters of blood compared with 2.5 microliters needed by traditional monitoring products to obtain an accurate reading. The company also manufactures a wireless unit made to continuously monitor glucose by using a miniaturized subcutaneous sensor.
Venture Backers:
InterWest Partners
Brentwood Venture Capital
Sequoia Capital
Delphi Ventures
Crown Advisors International Ltd.
Lehman Brothers
MedVenture Associates
Financing Rounds:
Number of Round Amount
Round # Round Date Stage Investors ($ thousands)
1 04/01/1997 3 Early Stage 5574.9
2 10/22/1998 6 Expansion 11882.0
3 02/02/2000 2 Expansion 42500.0
4 01/23/2001 9 Expansion 55999.7
Financials:
(Data in $ million except EPS)
Y/E
12/31/00
Total Revenues: $5.5
Net Income: (43.6)
EPS: (2.06)