Decode to Raise $30M in Stock Offering

Jul 14, 2006

NEW YORK (GenomeWeb News) - Decode Genetics plans to raise $30 million in a common stock offering to new and existing institutional investors, the company said today.

Decode said it will sell 6 million shares at $5 apiece. The shares closed at $5.68 yesterday. The company expects net proceeds after expenses to be approximately $27.8 million.

Decode said it expects to close the transaction on or about July 18.

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