Date of Advanced to Calendar Week of March 27th PRICING INFO
Initial Public Offering set at 4.5 mln shares, $17-$19/shr
Luminex Corp., developer of a technology which simplifies biological testing for the life sciences industry, said it would sell 4.5 million shares of common stock for $17-$19 a share in its initial public offering.
LMNX said it would net about $74.6 million based on those terms and would use the funds to fund its operations, the development and manufacturing of products and research and the development of new products. Luminex said it also will use some of the proceeds to hire additional personnel and expand its facilities.
After the offering, there will be about 26.5 million shares outstanding in the company, which would give it an initial market capitalization of approximately $477 million, based on a $18 per share initial price, the midpoint of the set range.
The underwriters, led by Warburg Dillon Read LLC, have been granted the option to purchase an additional 675,000 shares in the event of heavy demand.
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