NanoString Technologies Announces Closing of Public Offering of $230.0 Million of Common Stock Including Exercise in Full of Option to Purchase Additional Shares

Rhea-AI Summary

NanoString Technologies (NASDAQ:NSTG) has successfully completed its underwritten public offering of 5,750,000 shares at $40.00 per share, generating $230.0 million in gross proceeds. The offering included the full exercise of the underwriters’ option to purchase an additional 750,000 shares. After deducting expenses, net proceeds are approximately $215.7 million. The funds will be allocated for working capital and general corporate purposes. J.P. Morgan, UBS, and Cowen led the offering, which was made under a shelf registration statement filed with the SEC.

Positive

• Generated $230.0 million in gross proceeds from the public offering.
• Net proceeds of approximately $215.7 million will support working capital and corporate purposes.

Negative

• None.

SEATTLE--(BUSINESS WIRE)--NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for discovery and translational research, today announced the closing of its previously announced underwritten public offering of 5,750,000 shares of its common stock at a price to the public of $40.00 per share pursuant to its existing shelf registration statement, for gross proceeds of $230.0 million. The number of shares issued at closing included the exercise in full of the underwriters’ option to purchase 750,000 additional shares. Net proceeds to NanoString from the offering were approximately $215.7 million after deducting underwriting discounts and commissions and the estimated expenses of the offering. NanoString intends to use the net proceeds of the offering for working capital and general corporate purposes.

J.P. Morgan, UBS Investment Bank and Cowen acted as joint book-running managers for the offering. Baird acted as lead manager for the offering.

A shelf registration statement on Form S-3 relating to the common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on March 18, 2019 and automatically became effective upon filing. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by phone at 1-212-834-4533, or by email at prospectus-eq_fi@jpmchase.com; from UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by phone at 1-888-827-7275 or by email at ol-prospectus-request@ubs.com; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by phone at 1-833-297-2926 or by email at PostSaleManualRequests@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered 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.