J.P. Morgan, Morgan Stanley, Leerink Swann and Baird assist with deal
By Devika Patel
Knoxville, Tenn., June 26 - NanoString Technologies, Inc. priced its $54 million initial public offering of stock with an $8.1 million greenshoe, according to a prospectus filed Wednesday with the Securities and Exchange Commission. It expects the shares to trade on the Nasdaq under the symbol "NSTG."
The company will sell 5.4 million common shares at $10.00 apiece.
J.P. Morgan and Morgan Stanley are joint bookrunners. Leerink Swann and Baird are co-managers.
Settlement is expected July 1.
Proceeds will be used to commercialize Prosigna, expand the clinical utility of Prosigna and develop other potential diagnostic product opportunities, expand life sciences commercial operations, develop new life sciences applications, chemistry and instrumentation for the company's nCounter technology platform and for working capital and other general corporate purposes.
The life sciences research company is based in Seattle.
| Issuer: | NanoString Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $54 million
|
| Greenshoe: | $8.1 million
|
| Shares: | 5.4 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Managers: | J.P. Morgan and Morgan Stanley (joint bookrunners), Leerink Swann and Baird (co-managers)
|
| Pricing date: | June 25
|
| Settlement date: | July 1
|
| Stock exchange: | Nasdaq: NSTG
|
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