Piper Jaffray helps fund general corporate purposes, working capital
By Devika Patel
Knoxville, Tenn., July 19 - Nanosphere, Inc. said it priced a $25.2 million public offering of stock with an $8.72 million greenshoe. The deal was announced Wednesday.
The company will sell 10.5 million common shares at $2.40 apiece. The per-share purchase price is an 8.05% discount to the closing share price of $2.61 on July 18.
Piper Jaffray & Co. is the bookrunner; Roth Capital Partners is co-manager.
Settlement is expected July 24.
Proceeds will be used for general corporate purposes and working capital.
The Northbrook, Ill.-based company develops and commercializes advanced molecular diagnostics systems.
| Issuer: | Nanosphere, Inc.
|
| Issue: | Common stock
|
| Amount: | $25.2 million
|
| Greenshoe: | $8,718,750
|
| Shares: | 10.5 million
|
| Price: | $2.40
|
| Warrants: | No
|
| Bookrunner: | Piper Jaffray & Co.
|
| Co-manager: | Roth Capital Partners
|
| Announcement date: | July 18
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Stock symbol: | Nasdaq: NSPH
|
| Stock price: | $2.61 at close July 18
|
| Market capitalization: | $122.4 million
|
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