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908 Devices Prices $100M Public Offering

NEW YORK – Mass spectrometry firm 908 Devices said after the close of the market Wednesday that it has priced a public offering of 3,150,000 shares of its common stock at $32.00 per share.

Gross proceeds from the offering are estimated to be approximately $100.8 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on Nov. 15.

Cowen and SVB Leerink are the lead bookrunning managers for the offering, with William Blair and Stifel also acting as bookrunning managers.

908 Devices' core technologies include microfluidic capillary-electrophoresis systems for upfront separation of samples and high-pressure mass spec analyzers that are able to operate without the vacuum conditions used in conventional systems, allowing for much smaller and cheaper instruments. The Boston-based company went public in a $130 million initial public offering in December 2020.

In Thursday afternoon trading on the Nasdaq, 908 Devices shares were down less than 1 percent to $32.21.

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