NEW YORK – Singular Genomics Systems went public on the Nasdaq on Thursday after the firm priced its initial public offering of approximately 11.7 million shares at $22 per share the previous day, for anticipated gross proceeds of about $258.1 million before underwriting discounts, commissions, and other expenses.
In a Wednesday filing with the US Securities and Exchange Commission, the San Diego-based sequencing technology firm added nearly 2 million more shares to the offering. Previously, it had targeted a $187 million IPO.
Shares began trading on Thursday on the Nasdaq and rose to $29.00 per share before closing up 17 percent at $25.72.
JP Morgan, Goldman Sachs, Bank of America, and Cowen acted as joint bookrunning managers for the offering and as representatives of the underwriters. UBS also acted as a bookrunning manager. The underwriters have a 30-day option to purchase up to 1.5 million shares.