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10x Genomics to Sell 3.5M Shares in Public Offering

NEW YORK – 10x Genomics announced Tuesday that it plans to offer 3.5 million shares of Class A common stock in a follow-on public offering.

The Pleasanton, California-based single-cell and spatial genomics estimated a maximum offering price of $105.21 per share in its preliminary filing with the US Securities and Exchange Commission with estimated proceeds of around $354.4 million, after deducting underwriting discounts and commissions.

The firm plans to use the funds for general corporate purposes, including working capital, operating expenses, and capital expenditures. 10x said it may use a portion to invest in or acquire businesses but noted it does not have any binding agreements or commitments for acquisitions at this time.

JP Morgan, Bank of America, and Cowen and Company are serving as underwriters. Stifel and William Blair are acting as co-managers. The firm has offered the underwriters a 30-day option to purchase an additional 525,000 shares at the offering price.

The offering comes a year after the firm went public, raising $410.8 million in net proceeds.

In Wednesday morning trading on the Nasdaq, shares of 10x Genomics were up 4 percent at $111.20.

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