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Illumina Expects to Pocket $83.6M in Stock Placement

NEW YORK, May 19 (GenomeWeb News) - Illumina announced today that it will sell 3.5 million shares of its common stock for $25.50 apiece.

 

The company expects to receive net proceeds of about $83.6 million from the sale. Illumina last week disclosed its intent to sell the shares, but did not disclose the per-share price. The shares closed down at $25.90 yesterday.

 

Illumina has granted the underwriters of the offering the right to purchase an additional 525,000 shares of common stock.

 

Goldman Sachs and Merrill Lynch are acting as joint bookrunning and co-lead managers of the offering, while Cohen and Company and Robert W. Baird are acting as co-managers.

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