Finance History | Nasdaq MarketSite — Twelve Dollars Before the First Commercial Sensor
· 2005-4
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Finance History | Nasdaq MarketSite — Twelve Dollars Before the First Commercial Sensor
kevin
People treat Dexcom as a San Diego glucose-monitor house that always printed DXCM after a cleared product.
The 2005 issuer had not yet sold a commercial sensor.
A company release dated 14 April 2005 priced 4,700,000 common shares at 12.00 dollars a share. The underwriters received an option on 705,000 more. The common was set to trade on the Nasdaq National Market under DXCM.
At the offer price the company raised 56.4 million dollars in 2005 currency before the option.
A later retail recap recorded an opening print of 12.08 dollars that day.
The mechanism is a development-stage device IPO. Holders bought clinical-trial cash and a subcutaneous sensor still awaiting commercial clearance, not a pharmacy product already on a shelf.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square, the later face of the electronic market that still prints DXCM. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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