05:40 PM EDT, 05/21/2025 (MT Newswires) -- Senseonics ( SENS ) said Wednesday that it raised $57.5 million following a public offering of 115 million shares at $0.50 a share, including the exercise of an over-allotment option.

The company said it also sold about 40.5 million shares to Abbott Laboratories (ABT) in a private placement, raising about

$20.3 million.

Senseonics ( SENS ) said it plans to use the net proceeds for the launch of Eversense 365, developing pipeline products, working capital and general corporate purposes.

Shares of the company were up about 2% in after-hours activity.