Deal via Piper Jaffray funds working capital, general corporate needs
By Susanna Moon
Chicago, May 13 - Nanosphere, Inc. settled a total of $34.5 million of common shares in a public offering on May 13 after underwriters fully exercised the over-allotment option for another 2,046,000 shares. Piper Jaffray & Co. is the bookrunner and Roth Capital Partners, LLC is co-manager.
The company sold a total of 15,686,000 shares at a price of $2.20 per share, which is a 23.34% discount to the May 6 closing price.
Proceeds will be used for general corporate purposes and working capital.
The company announced the deal on May 9.
The Northbrook, Ill.-based company develops and commercializes advanced molecular diagnostics systems.
| Issuer: | Nanosphere, Inc.
|
| Issue: | Common shares
|
| Amount: | $34,509,200 (including greenshoe exercise for $4,501,200)
|
| Shares: | 15,686,000
|
| Price: | $2.20
|
| Warrants: | No
|
| Pricing date: | May 10
|
| Settlement date: | May 13
|
| Stock symbol: | Nasdaq: NSPH
|
| Stock price: | $2.87 at close May 6
|
| Market capitalization: | $63.99 million
|
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