Funds used to commercialize and expand clinical utility of Prosigna
By Devika Patel
Knoxville, Tenn., Jan. 23 - NanoString Technologies, Inc. said it priced its $55 million public offering of stock with an $8.25 million greenshoe. The deal was announced Tuesday.
The company will sell common shares at $18.50 apiece. The per-share purchase price is a 7.22% discount to the closing share price of $19.94 on Jan. 22.
JPMorgan and Morgan Stanley are the joint bookrunning managers.
Proceeds will be used to commercialize Prosigna, expand the clinical utility of Prosigna and develop other diagnostic product opportunities, expand life sciences commercial operations, develop new life sciences applications, chemistry and instrumentation for the nCounter technology platform and for working capital and other general corporate purposes.
The Seattle company develops and sells products that unlock scientifically valuable and clinically actionable genomic information from minute amounts of tissue.
| Issuer: | NanoString Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $55 million
|
| Greenshoe: | $8.25 million
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| Price: | $18.50
|
| Warrants: | No
|
| Bookrunners: | JPMorgan and Morgan Stanley
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| Co-managers: | Leerink Partners and Robert W. Baird & Co. Inc.
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| Announcement date: | Jan. 21
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| Pricing date: | Jan. 23
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| Stock symbol: | Nasdaq: NSTG
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| Stock price: | $19.94 at close Jan. 22
|
| Market capitalization: | $285.89 million
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