Bookrunner J.P. Morgan assists; offering funds research, development
By Devika Patel
Knoxville, Tenn., June 20 - Genmark Diagnostics, Inc. priced a $4.2 million public sale of stock with a $6.3 million greenshoe in a prospectus supplement filed Wednesday with the Securities and Exchange Commission. The deal was announced Tuesday.
The company will sell 10 million common shares at $4.20 apiece. The price per share is a 5.41% discount to the June 19 closing share price of $4.44.
J.P. Morgan Securities LLC is the bookrunning manager. William Blair & Co., LLC and Canaccord Genuity Inc. are co-managers.
Settlement is expected June 26.
Proceeds will be used for research and development of the NexGen System, as well as expansion of the company's U.S. and global commercial organizations.
The molecular diagnostics company is based in Pasadena, Calif.
| Issuer: | Genmark Diagnostics, Inc.
|
| Issue: | Common shares
|
| Amount: | $4.2 million
|
| Greenshoe: | $6.3 million
|
| Shares: | 10 million
|
| Price: | $4.20
|
| Warrants: | No
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Pricing date: | June 20
|
| Settlement date: | June 26
|
| Stock symbol: | Nasdaq: GNMK
|
| Stock price: | $4.44 at close June 19
|
| Market capitalization: | $90.66 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
