Insulet prices follow-on offering

Insulet Corp., a Bedford maker of insulin-management systems, reports it has priced its second public offering of common stock.

The offering of nearly 4.9 million shares was priced at $23.25 per share, and all the stock in the offering is expected to be sold by shareholders. Insulet reports the company would not receive any of the $113.9 million in anticipated net proceeds from the offering.

Executives said the company has also granted underwriters of the offering the option to buy 734,759 additional shares to cover any over-allotments. The stock closed Tuesday, Nov. 6 at $23.50 per share on the Nasdaq Global Market.

Insulet, founded in 2000, produces an insulin-delivery device called the OmniPod for people with insulin-dependent diabetes. The firm reported a 2006 net loss of $35.95 million on revenue of $3.7 million.

Insulet raised $120 million in a May 2007 initial public offering.

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