NEW YORK (GenomeWeb News) – Luminex today announced that its public offering of 3.5 million shares of common stock, which is expected to close on June 30, will price at $19.91 per share.
The Austin, Texas-based firm expects to realize net proceeds of $64.5 million from the offering. It also has granted underwriters a 30-day option to acquire an additional 525,000 shares of common stock to cover any over-allotments.
JPMorgan and UBS are joint book-running managers for the offering, with Avondale Partners, Canaccord Adams, Leerink Swann acting as co-managers.
Luminex said in its preliminary prospectus for the offering that net proceeds will be used for general corporate purposes, including research and development, potential acquisitions of, or investments in, companies and technologies, capital expenditures, and additions to working capital.
In early Wednesday trade on the Nasdaq, shares of Luminex rose 6.6 percent to $21.22.