LipoScience, Inc.LPDX today announced the pricing of its initial
public offering of 5,000,000 shares of common stock at a price to the public
of $9.00 per share. The shares are expected to begin trading on The NASDAQ
Global Market under the ticker symbol "LPDX" on Friday, January 25, 2013. All
of the shares are being offered by LipoScience. In addition, LipoScience has
granted the underwriters a 30-day option to purchase an aggregate of up to an
additional 750,000 shares at the initial public offering price, less
underwriting discounts and commissions, to cover over-allotments. LipoScience,
Inc. expects to receive, after deducting underwriting discounts and
commissions and estimated offering expenses payable by us, net proceeds of
approximately $38.6 million from the offering and intends to use the net
proceeds to hire additional sales and marketing personnel and to support costs
associated with increased sales and marketing activities, for capital
expenditures, including components of the Vantera^® system, to fund its
research and development programs, including the expansion of its diagnostic
test menu based on the Vantera system, to pay accrued dividends in the amount
of $5.2 million on shares of preferred stock that will convert into common
stock upon the closing of the offering, and the balance for other general
corporate purposes, including general and administrative expenses, working
capital and the potential repayment of indebtedness.
Barclays Capital Inc., UBS Securities LLC and Piper Jaffray & Co. are acting
as joint book-running managers for the offering.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in