Piper Jaffray helps fund general corporate purposes, working capital
By Devika Patel
Knoxville, Tenn., Sept. 18 - Nanosphere, Inc. reported that the underwriters for its public offering of stock opted to exercise the deal's $3.94 million greenshoe in full for total proceeds of $30.19 million on Sept. 18. The deal was announced Sept. 12 and priced for $26.25 million with the greenshoe on Sept. 13.
According to an 8-K filed Wednesday with the Securities and Exchange Commission, the company sold 17.25 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. Of the shares, 2.25 million were part of the fully exercised greenshoe.
Piper Jaffray & Co. was the bookrunning manager.
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: | $30,187,500 (including $3,937,500 greenshoe)
|
| Shares: | 17.25 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: | $108.18 million
|
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