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Sequenom Closes Previously Announced Stock Placement; Nets $18.4M

NEW YORK (GenomeWeb News) — Sequenom has netted $18.4 million after selling $20 million of its common stock to “several new and existing” institutional investors, the company said today.
 
As a result, the company’s shares were up 9.12 percent, or $.30, at $3.59 in mid-afternoon trading today.
 
As GenomeWeb Daily News reported last Wednesday, Sequenom said it would sell 6.7 million shares at $3 apiece, a 1-cent premium over the stock’s closing price at that time.
 
Lehman Brothers and Rodman & Renshaw acted as placement agents for the transaction.