llumina sets IPO at 5 mln shares, $9-$11 per share
July 3, 2000 05:36 PM Eastern Time
WASHINGTON, July 3 (Reuters) - Illumina Inc., a maker of
genomics tools for drug research, on Monday set its initial public
offering at 5 million shares of common stock in a projected range
of $9-$11 per share.
It expects to raise $45.2 million in net proceeds from the IPO, an
amended prospectus filed with the Securities and Exchange
Commission showed.
The San Diego-based company plans to use the net proceeds for
general corporate development, working capital, funding of
operating losses, capital expenditures and potential acquisitions.
Illumina develops tools for large-scale analysis of genetic variation
and function, which are critical to the development of personalized
medicine.
It has applied to trade its shares on Nasdaq under the symbol
"ILMN" ILMN .
Its underwriters, led by Goldman Sachs & Co., have the option of
buying 750,000 additional shares in the event of heavy demand,
according to the filing.
Once the company goes public, there will be about 30.5 million
shares outstanding in the company.
That would give the company an initial market capitalisation of
$335.5 million based on a median price of $10 per share. |
