Senseonics (SENS) said Wednesday that it raised $57.5 million following a public offering of 115 million shares at $0.50 a share, including the exercise of an over-allotment option.

The company said it also sold about 40.5 million shares to Abbott Laboratories (ABT) in a private placement, raising about

$20.3 million.

Senseonics said it plans to use the net proceeds for the launch of Eversense 365, developing pipeline products, working capital and general corporate purposes.

Shares of the company were up about 2% in after-hours activity.