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PacBio Raises IPO Target Again, to $244.4M

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This article was originally published Oct. 21.

Pacific Biosciences has raised its maximum aggregate offering price for its planned initial public offering from $230 million to $244.4 million, according to an updated prospectus filed with the Securities and Exchange Commission last week.

The company now plans to register 14.375 million shares of common stock, to be sold for between $15 and $17 per share.

This is the second time this month that PacBio, which filed for its IPO in August (IS 8/24/2010), has raised its offering target. Earlier this month, the company increased the maximum aggregate offering price from $200 million to $230 million (IS 10/5/2010).

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