Senseonics Sells Diabetes Business for Up to $100M

TL;DR

Senseonics selling diabetes biz to Ascensia for up to $100M to focus on implants.

AI Summary

Senseonics Holdings, Inc. announced on June 21, 2024, that it has entered into a definitive agreement to sell its diabetes business to a subsidiary of Ascensia Diabetes Care Holdings AG for up to $100 million. The transaction includes an upfront payment of $45 million and potential milestone payments totaling $55 million. This divestiture is part of Senseonics' strategy to focus on its implantable diagnostic technologies.

Why It Matters

This sale allows Senseonics to streamline its operations and concentrate on its core implantable diagnostic technologies, potentially leading to more focused innovation and growth in that area.

Risk Assessment

Risk Level: medium — The company is divesting a significant business segment, which carries inherent risks related to execution, integration, and future strategic direction.

Key Numbers

• $100M — Total Potential Sale Price (Maximum amount Senseonics could receive from the sale of its diabetes business.)
• $45M — Upfront Payment (Initial cash payment Senseonics will receive upon closing the transaction.)
• $55M — Potential Milestone Payments (Additional payments contingent on achieving specific future milestones.)

Key Players & Entities

• Senseonics Holdings, Inc. (company) — Registrant
• Ascensia Diabetes Care Holdings AG (company) — Acquirer
• $100 million (dollar_amount) — Total potential sale price
• $45 million (dollar_amount) — Upfront payment
• $55 million (dollar_amount) — Potential milestone payments
• June 21, 2024 (date) — Date of agreement

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SENS NYSE American Indica

Filing Documents

• tm2417819d1_8k.htm (8-K) — 27KB
• tm2417819d1_ex99-1.htm (EX-99.1) — 13KB
• tm2417819d1_ex99-1img001.jpg (GRAPHIC) — 4KB
• 0001104659-24-074005.txt ( ) — 217KB
• sens-20240621.xsd (EX-101.SCH) — 3KB
• sens-20240621_lab.xml (EX-101.LAB) — 33KB
• sens-20240621_pre.xml (EX-101.PRE) — 22KB
• tm2417819d1_8k_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On June 21, 2024, the Company issued a press release announcing, among other things, its 2024 business outlook. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein. The information set forth in this Item 7.01 and contained in the press release furnished as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, and is not incorporated by reference into any of the Company's filings under the Exchange Act or the Securities Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release dated June 21, 2024, titled "Senseonics Holdings, Inc. Provides Business Update and Full Year 2024 Financial Outlook." 104 Cover Page Interactive Data (embedded within the Inline XBRL document). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 21, 2024 SENSEONICS HOLDINGS, INC. By: /s/ Rick Sullivan Name: Rick Sullivan Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR