NEW YORK (GenomeWeb News) - Genomic Health plans to sell 3 million shares of its common stock through an underwritten public offering, the company said yesterday.
The company said it will use the proceeds from the sale for general corporate purposes, marketing, R&D, and for expanding its labs.
Genomic Health said it will grant underwriters a 30-day option to buy an additional 450,000 shares.
The company's stock closed at $15.79 on Monday.
J.P. Morgan Securities will be sole book-runner for the offering, and Lehman Brothers, Piper Jaffray, and JMP securities will be co-managers.