MiniMed Sells 1.5 Million Shares to Net $22.2 Million

MiniMed Inc. has sold 1.5 million additional shares of common stock at $26 per share.

The offering was made up of 925,000 shares sold by the company plus 575,000 shares sold by current shareholders.

After various expenses, the company said its proceeds would amount to $22.2 million.

MiniMed, based in Sylmar, makes infusion systems used to treat various illnesses, including diabetes.