SAN DIEGO, Dec. 2, 2010 /PRNewswire-FirstCall/ -- Sequenom, Inc. (Nasdaq: SQNM) today announced the pricing of an underwritten public offering of 14,000,000 shares of its common stock, offered at a price to the public of $6.00 per share. The gross proceeds to Sequenom from this offering are expected to be $84.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Sequenom. Jefferies & Company, Inc. is acting as sole book-running manager for the offering, and Lazard Capital Markets LLC and Piper Jaffray & Co. are acting as co-managers for the offering. Sequenom has granted the underwriters a 30-day option to purchase up to an aggregate of 2,100,000 additional shares of common stock to cover overallotments, if any. The offering is expected to close on or about December 7, 2010, subject to customary closing conditions.
Sequenom anticipates using the net proceeds from the offering for general corporate purposes, including research and development expenses such as expenses related to its validation studies for Trisomy 21, capital expenditures, working capital and general administrative expenses.
The securities described above are being offered by Sequenom pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on October 5, 2010. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement relating to these securities, when available, may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions. Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. The company was founded in 1994 and is headquartered in San Diego, California.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Sequenom's expectations with respect to the completion, timing and size of the proposed offering, and its anticipated use of proceeds from the proposed offering, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with market conditions, the satisfaction of customary closing conditions related to the proposed offering, the application of the net proceeds from the offering and other risks detailed in Sequenom's current report on Form 8-K filed with the SEC on December 1, 2010. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
SOURCE Sequenom, Inc.