Hyseq, Inc. announced today
that it has filed a registration statement on Form S-1 with the Securities and
Exchange Commission for an initial public offering of 2,750,000 shares of its
Common Stock, all of which will be sold by the Company. The filing covers an
additional 412,500 shares that will be subject to the underwriters'
overallotment option. The Company expects the shares to come to market
between $12 and $14 per share. Lehman Brothers Inc., Smith Barney & Co. Inc.,
and Fahnestock & Co. Inc., will manage the offering.
Hyseq, Inc. applies the proprietary DNA array technology of its integrated
HyX(SM) genomics platform to develop gene-based therapeutic product candidates
and diagnostic products and tests.
The Company anticipates that the net proceeds of the offering will be used
to develop potential therapeutic product candidates and diagnostic tests,
expand the HyGenomics(TM) Database, further develop the HyChip(TM) Module,
invest in capital equipment and lease additional space to increase capacity
and general corporate purposes, including working capital.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission, but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This communication
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such State.
Copies of the prospectus contained in the Registration Statement may be
obtained by written or oral request directed to Lehman Brothers Inc., c/o ADP
Processing, 536 Broadhollow Road, Melville, Long Island, New York at
516-254-7106 and by facsimile at 516-249-7942. |
