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Fluidigm Prices IPO at $13.50 per Share

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Fluidigm today priced its initial public offering of 5,558,333 shares of common stock at a price of $13.50 per share.

The offering price is at the low end of the anticipated range of $13.50 to $15.50 that Fluidigm disclosed in a prospectus filed last month with the US Securities and Exchange Commission. The total number of shares being offered, however, increased from the 5,172,414 shares previously expected.

Deutsche Bank and Piper Jaffray are joint book-running managers for the offering, and Cowen and Company and Leerink Swann acted as co-managers.

Fluidigm has granted the underwriters an option to purchase an additional 833,750 shares of common stock to cover over-allotments.

Gross proceeds from the offering, not including the over-allotment option, will be roughly $75 million.

The South San Francisco, Calif.-based firm said that it 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.

Among Fluidigm's primary products are its BioMark and EP1 systems for digital PCR and SNP analysis and its AccessArray platform for sample preparation.

The firm will trade on the Nasdaq Global Market under the symbol "FLDM."

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