Logo

Pacific Biosciences Plans to Raise $30M in Public Stock Offering

Feb 13, 2018 | staff reporter

NEW YORK (GenomeWeb) – Pacific Biosciences announced today that it plans to raise gross proceeds of $30 million in a planned public offering of 12.5 million shares of common stock at $2.40 per share.

PacBio will also grant the underwriters a 30-day option to purchase up to almost an additional 1,875,000 shares of its common stock sold in the offering.

Cantor Fitzgerald will act as the sole book-running manager for the offering, which is anticipated to close on Feb. 15th.

PacBio said it intends to use the net proceeds for corporate purposes, including capital expenditures and working capital. The firm may also use a portion of the proceeds to acquire or invest in complementary businesses, technologies, product candidates, or other intellectual property, it said.

Last June, PacBio raised $46 million in a public stock offering of around 15.4 million shares.

PacBio shares were down 11 percent to $2.26 in Tuesday morning trading on the Nasdaq.  

Filed under

Business News
Sequencing
stock offering
Pacific Biosciences
Breaking News
The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.