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Biotech / Medical : Celera Genomics (CRA) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (138)	3/1/2000 9:49:00 AM
From: Robert Rose	Read Replies (1) \| Respond to of 746

Wednesday March 1, 7:58 am Eastern Time PE Corp offers 3.8 mln shrs of Celera Genomics ROCKVILLE, Md., March 1 (Reuters) - PE Corp. on Wednesday said it would offer 3.8 million shares of its Celera Genomics (NYSE:CRA - news) operating group at $225 a share in a follow-up public offering. Celera's net proceeds to Celera from the offering are expected to reach $820 million after fees. The company expects to use the offering's net proceeds to fund Celera's new products and technology development in genomics, the study of the function and structure of genes to develop drugs. Celera also intends to use the money generated by the offering for general corporate purposes, including possible acquisitions, alliances, or collaborations. The shares were offered by an underwriting group for which Morgan Stanley Dean Witter, Goldman, Sachs & Co., SG Cowen, ING Barings, and Bear Stearns & Co., acted as representatives. The underwriters also have an option to purchase up to an additional 570,000 shares of Celera Genomics common stock to cover over-allotments. PE Corp comprises two operating groups. Celera Genomics Group, headquartered in Rockville, Md., and PE Biosystems Group (NYSE:PEB - news), headquartered in Foster City, Calif. which develops and markets instrument-based systems, software, and contract related services to the life science industry.