Senseonics (SENS) said late Thursday it has launched an underwritten public offering of $50 million of its common stock.

The company expects to grant underwriters an option to purchase up to an additional 15% of the shares in the offering.

Senseonics will sell all of the shares in the offering.

Additionally, the company said Abbott Laboratories (ABT) agreed to purchase up to $25 million of its shares in a separate private placement at the public offering price.

Senseonics intends to use the net proceeds from the public offering and private placement to fund the ongoing launch of Eversense 365 and the continued development of pipeline products.