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Sequenom Files $150M Shelf Registration with SEC

NEW YORK (GenomeWeb News) – Sequenom has filed a Form S-3 with the US Securities and Exchange Commission covering the potential sale of securities worth $150 million.

Under the shelf registration, Sequenom may from time to time offer up to $150 million of common stock, preferred stock, debt securities, and warrants in any combination. The firm said that it may sell the securities directly to investors or to or through agents, underwriters, or dealers.

Sequenom said that it retains "broad discretion" over the use of proceeds from any offerings made under the registration. However, it said in the prospectus that it intends to use proceeds for general corporate purposes including R&D, capital expenditures, working capital, and general administrative expenses. "We may also use a portion of the net proceeds to acquire or invest in businesses, products and technologies that are complementary to our own, although we have no current plans, commitments or agreements with respect to any acquisitions as of the date of this prospectus," it added.

Last month Sequenom launched its MaterniT21 test for detection of trisomy 21 in 20 major metropolitan markets in the US. And earlier this month it reported 16 percent revenue growth for its third quarter.

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