Shares of Tandem Diabetes Care are trading lower, which is being attributed to the expiration of a lock-up related to a secondary offering of stock the company announced in August. On August 2, Tandem Diabetes announced a 3.51M share secondary offering of stock that priced at $28.50 per share and raised $100M. Today is the first day some shareholders and company insiders get to sell their shares in the healthcare safety device maker related to that secondary offering, according to Bloomberg data. In morning trading, Tandem dropped $6.54, or 13.7%, to $41.09 per share.
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