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Fluidigm Places Price Range of $13.50 to $15.50 per Share on IPO

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Fluidigm today said it plans to offer more than 5 million shares of its common stock at between $13.50 and $15.50 per share in its planned initial public offering.

In its amended prospectus filed with the US Securities and Exchange Commission, the company, which refiled for a public offering last month, said that that it plans to offer 5,172,414 shares of its common stock. Net proceeds from the IPO are anticipated to be $68.3 million at the midpoint of the offering range, $14.50 per share.

The company plans to list on the Nasdaq under ticker symbol "FLDM."

Leerink Swann and Cowen and Company were also added as underwriters on the offering, joining Deutsche Bank and Piper Jaffray.

The company estimates $15 million in proceeds from the offering will be used for sales and marketing activities, including adding sales personnel to support commercialization of its products; $12 million will be used for R&D; and $4 million will be used for facility improvements and the purchase of manufacturing and other equipment, Fluidigm said in its amended form S-1.

It added that $5 million will be used to repay promissory notes issued earlier this month. Remaining proceeds will be used for working capital, other general corporate purposes, and possibly for the acquisition of and investments in complementary products, technologies, or businesses, Fluidigm said.

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