Health and Healthcare
Sequenom Holds Up Well On Secondary Offering (SQNM)
Published:
Sequenom, Inc. (NASDAQ: SQNM) has priced its public secondary offering of 5,500,000 shares of common stock at a price of $15.50 per share, and underwriters have a 30-day option to purchase up to an additional 825,000 shares of common stock t cover over-allotments.
Lehman Brothers and UBS Investment Bank were the joint book-running managers and co-managers for were listed as Leerink Swann, Lazard Capital Markets, Oppenheimer, and Rodman & Renshaw.
All of the shares are being offered by Sequenom and the net proceeds from the offering are earmarked for the development of diagnostic tests for use on its MassARRAY system and other platforms, and for general corporate purposes.
Shares are only down about 1.5% at $15.70 in early trading. Shares closed at $15.94 yesterday and the 52-week trading range is $4.25 to $16.89. Its market cap before any extra shares was listed as $723 million based on yesterday’s close.
Jon C. Ogg
June 26, 2008
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