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Sequenom Hopes to Net $28M From Private Stock Placement

Oct 26, 2007
NEW YORK (GenomeWeb News) — Sequenom said today it hopes to net $28 million in a private placement of 3.4 million shares of common stock at $9 apiece.   

The company said it plans to use the money to research, develop, and commercialize “various diagnostic tests,” and for general corporate purposes.

Sequenom also reaffirmed its full-year 2007 revenue guidance of $39 million to $41 million, which would be an increase of between 37 percent and 44 percent over 2006 revenues.

The company said Lehman Brothers and UBS Investment Bank were joint-lead placement agents in the private placement and Oppenheimer & Co., Leerink Swann, and Rodman & Renshaw were co-placement agents.

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