BILLERICA, Mass.--(BUSINESS WIRE)--Insulet Corporation (NASDAQ: PODD), a leader in tubeless insulin pump technology with its Omnipod® Insulin Management System (Omnipod System), has priced a private placement of $350 million principal amount of convertible senior notes due 2024 (the Notes). The size of the offering was increased from the previously announced $300 million principal amount due to strong investor demand. The Notes will bear interest at an annual rate of 1.375% and will mature on November 15, 2024, unless earlier converted, repurchased or redeemed. Insulet also granted the initial purchasers of the Notes an option to purchase up to an additional $52.5 million principal amount of Notes.

About Insulet Corporation:

Insulet Corporation (NASDAQ: PODD) is an innovative medical device company dedicated to making the lives of people with diabetes easier. Insulet seeks to expand the use of insulin pump therapy with its Omnipod Insulin Management System among people with insulin-dependent diabetes. The Omnipod System is a revolutionary and easy-to-use tubeless insulin pump that provides up to three days of non-stop insulin delivery, without the need to see or handle a needle. Insulet's Delivery Systems business partners with global pharmaceutical and biotechnology companies to adapt the Omnipod technology platform for the delivery of subcutaneous drugs across multiple therapeutic areas. Founded in 2000, Insulet Corporation is based in Billerica, Massachusetts.