Asante Solutions, which markets a recently-approved insulin pump system with pre-filled cartridges, announced terms for its IPO on Friday. The Sunnyvale, CA-based company plans to raise $49 million by offering 3.5 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Asante Solutions would command a fully diluted market value of $182 million.
Asante Solutions, which was founded in 2006 and booked $1 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol PUMP. Leerink Partners and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of February 2, 2015.
