Piper Jaffray helps fund general corporate purposes, working capital
By Devika Patel
Knoxville, Tenn., Sept. 13 - Nanosphere, Inc. priced a $26.25 million public offering of stock with a $3.94 million greenshoe on Sept. 13, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal was announced Thursday.
The company will sell 15 million common shares at $1.75 apiece. The price per share is a 12.94% discount to the Sept. 12 closing share price of $2.01.
Piper Jaffray & Co. is the bookrunning manager.
Settlement is expected Sept. 18.
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 shares
|
| Amount: | $26.25 million
|
| Greenshoe: | $3,937,500
|
| Shares: | 15 million
|
| Price: | $1.75
|
| Warrants: | No
|
| Bookrunner: | Piper Jaffray & Co.
|
| Co-managers: | Canaccord Genuity Inc. and Cowen and Co., LLC
|
| Announcement date: | Sept. 12
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 18
|
| Stock symbol: | Nasdaq: NSPH
|
| Stock price: | $2.01 at close Sept. 12
|
| Market capitalization: | $105.16 million
|
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