Sequenom prices stock offering worth $84 million
Biotechnology company Sequenom Inc. said Thursday it is publicly offering $84 million in common stock and will use proceeds for general corporate purposes, including research and development.
The company is offering 14 million shares at $6 apiece, an 11.9 percent discount to its closing price of $6.81 on Wednesday.
The stock fell 34 cents, or 5 percent, to $6.47 in morning trading on Thursday. Shares have traded between $3.82 and $8.65 over the last 52 weeks.
The company granted underwriters a 30-day option to buy up to an additional 2.1 million shares. Jefferies & Co is the sole manager for the offering.
The offering is expected to close on or about Dec. 7.