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Pacific Biosciences Begins Trading on Nasdaq

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This article was originally published Oct. 27.

Pacific Biosciences' registration statement for its initial public offering was declared effective by the Securities and Exchange Commission last week and the company started trading on the Nasdaq Global Select Market on Oct. 27 under the ticker symbol "PACB."

The company raised $200 million in its IPO, offering 12.5 million shares of common stock at $16 per share and granting its underwriters a 30-day option to purchase up to 1.875 million shares at that price to cover over-allotments.

Including over-allotments, the company stands to raise up to $230 million in the offering, or $216 million after underwriting discounts and commissions. This is more than the $200 million the company set out to raise initially (IS 8/24/2010), but less than the $244.4 million maximum aggregate offering price it had proposed last month (IS 10/26/2010).

Following the offering, PacBio has at least 50.1 million shares of common stock outstanding, or almost 52 million if the underwriters exercise their over-allotment option in full.

As of Tuesday mid-day of this week, PacBio's shares traded at approximately $16.50.

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