NEW YORK (GenomeWeb News) – Nanosphere today said that it plans to offer 10.5 million shares of its common stock at $2.40 per share in a public offering.

The offering is expected to bring in net proceeds of about $23.4 million. It has granted its underwriters a 30-day option to purchase up to 1.575 million additional shares of common stock to cover any overallotments. If the option is exercised, net proceeds are expected to be about $26.9 million.

The offering is expected to close on July 24.

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