Advertisement
News
Advertisement

Pacific Biosciences to raise up to $230 mln in IPO

Wed, 10/06/2010 - 3:32am
I-Micronews

The Menlo Park, California-based company expects to offer 12.5 million shares at $15-$17 each, with an over-allotment option of 1.9 million shares, it said in an amended filing.

The life sciences company, which designs machines to speed up DNA sequencing in labs, sees net proceeds of $182.5 million, assuming the offering priced at $16 per share, the mid-point of the range.

The company plans to invest about $60-$70 million of the proceeds in its technology platform called single molecule, real-time, or SMRT technology.

Pacific Biosciences initially filed for an IPO in August. The amended filing detailed the expected pricing of the common stock sale. [ID:nSGE67F0JN]

JP Morgan, Morgan Stanley, Deutsche Bank and Piper Jaffray are underwriting the IPO, the company said.

Pacific Biosciences plans to list its shares under the ticker symbol "PACB" on Nasdaq.

SOURCE

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading