We advised the representatives of the initial purchasers on the offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Tandem Diabetes Care, Inc. of an aggregate principal amount of $300 million of its 0.00% convertible senior notes due 2032, which included $35 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to the new capped call transactions entered into in connection with the offering.

Tandem Diabetes Care intends to use the proceeds from the convertible notes offering to pay for the cost of capped call transactions and for general corporate purposes, which may include acquisitions or strategic investments in complementary businesses or technologies, working capital, operating expenses and capital expenditure.

Tandem Diabetes Care, a global insulin delivery and diabetes technology company, manufactures and sells advanced automated insulin delivery systems that reduce the burden of diabetes management, while creating new possibilities for patients, their loved ones and healthcare providers.

The Davis Polk capital markets team included partner Stephen A. Byeff and associate Robert Van De Mark. The equity derivatives team included partner Mark M. Mendez, counsel Gregory E. Marchesini and associates Ji Hwan Kim and Melissa X. Estrada. Partner Aliza Slansky and associate Yueyu Yang provided tax advice. Partner David R. Bauer and associate Francesca Masella provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

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