NEW YORK (GenomeWeb News) – Complete Genomics has filed to raise up to $100 million in a public offering.
In a Form S-3 filed with the US Securities and Exchange Commission on Friday, the company said that it may seek to raise the funds through the sale of preferred stock, debt securities, and warrants from time to time. Use of proceeds will go toward general corporate purposes, including R&D, increase of working capital, reduction of indebtedness, acquisitions, investments into the business, and capital expenditures.
Complete Genomics had raised around $74 million through a public offering of 6.3 million shares of its common stock at $12.50 per share in early June.
The Mountain View, Calif.-based firm reported in November flat third-quarter revenues, and earlier this month, some analysts lowered their estimates for the company after CFO Ajay Bansal said that Complete Genomics expects to ship about 900 genomes during the fourth quarter, the low end of guidance it had provided earlier.
In afternoon trading on Nasdaq shares of Complete Genomics were down around 4 percent at $2.73.