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Illumina Prices Public Offering

NEW YORK (GenomeWeb News) – Illumina said today that it has priced its public offering of 3.5 million shares of common stock at $87.50 per share, below Wednesday’s closing price of $89.25.
 
The firm said that net proceeds from the offering were approximately $297.9 million. Illumina also has granted the underwriter an option to purchase an additional 525,000 shares of the stock within a period of 30 days after the date of the prospectus supplement related to the offering.
 
Illumina said in an SEC filing earlier this week that it intends to use the proceeds from the offering to fund R&D efforts, expand its manufacturing capacity, and for working capital needs. It also said that it may use the money to acquire, license, or invest in other businesses, technologies, or products.
 
Goldman, Sachs is acting as sole manager of the offering.

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