NEW YORK (GenomeWeb News) – Sequenom said after the close of the market Monday that it has completed the private placement of $130 million of 5 percent convertible senior notes due 2017.
The San Diego-based molecular diagnostics firm said the placement included $20 million aggregate principal amount of notes from the full exercise of the over-allotment option.
Net proceeds from the offering will be used to fund further commercialization of Sequenom's MaterniT21 Plus non-invasive test for trisomies, 21, 18, and 13.
The notes placement follows a public offering of Sequenom common stock earlier this year that brought in $62 million in gross proceeds.