Livongo proposed a $400 million offering of convertible senior notes due in 2025.
Three things to know:
1. The digital health company said it plans to use a portion of the net proceeds from the offering to pay the cost of capped call transactions and spend the remainder on general corporate purchases.
2. During the first quarter of 2020, Livongo's reported revenue jumped 115 percent, to $69 million.
3. Membership in Livongo's diabetes program increased from 164,000 to 328,000 year over year in the first quarter. The company also increased its client base 44 percent quarter over quarter to 1,252 clients, according to business news website Business Insider.
"Livongo's success is yet another positive signal for the digital health industry during the pandemic and unstable economy—and we think digital health firms seeing success will continue to gun ahead," Business Insider stated.