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Underwriters Exercise Option on BG Medicine IPO

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – BG Medicine said Wednesday that the underwriters of its initial public offering have exercised in full their over-allotment option to purchase an additional 750,000 shares of BG's common stock for $7 per share.

In total, BG sold 5.75 million shares at a price of $7 per share in the offering. The firm said in its prospectus for the offering that if the underwriters' over-allotment option was exercised in full, its net proceeds would be approximately $35.1 million.

BG went public late last week. Its shares closed at $8.19 in Wednesday trade on the Nasdaq.

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