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The Massachusetts sequencing firm has been selling technology originally developed by Helicos BioSciences and planned to increase marketing with the IPO proceeds.

Sales Stopped

The US Securities and Exchange Commission has halted the sales of a handful of stocks over claims made about the coronavirus.

The company also inked a deal with an investment bank to publicly offer from time to time up to $4.2 million of its stock.

The Seattle-based immune sequencing firm will not receive any proceeds from the sale of the shares.

The firm plans to raise as much as $250 million, according to the document filed with the US Securities and Exchange Commission.

The Genetron Health S5 NGS system is based on the Thermo Fisher Scientific Ion GeneStudio S5 and will be accompanied by Genetron-developed assays.

The proceeds from the sale will go toward the planned acquisition of Curetis and to support the ongoing submission of its technology to US regulators.

The company announced its European subsidiary priced an offering of €6.20 billion ($6.83 billion) in senior notes to fund part of its purchase of GE's Biopharma business.

The firm replaced an existing $4 billion credit facility with a $5 billion one, and entered into a new $5 billion revolving credit facility. 

The disclosure comes less than a week after the company said that it was out of compliance with the Nasdaq's minimum shareholder equity requirement.

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