10x Genomics Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

10x Genomics, Inc. (NASDAQ: TXG) announced the successful closing of a public offering for 4,600,000 shares of its Class A common stock, including the full exercise of an underwriters’ option for an additional 600,000 shares. Priced at $110.00 per share, the total gross proceeds amounted to $506 million prior to underwriting discounts and expenses. J.P. Morgan Securities LLC, BofA Securities, and Cowen and Company acted as lead managers. Registration statements for this offering were effective as of September 10, 2020.

Positive

• Raised $506 million in gross proceeds from the offering.
• Successful exercise of underwriters’ option for additional shares.
• Positive market response indicated by the full subscription of the offering.

Negative

• Shareholder dilution due to the increase in the number of shares outstanding.

PLEASANTON, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- 10x Genomics, Inc. (NASDAQ: TXG) (the “Company”) today announced the closing of its public offering of 4,600,000 shares of its Class A common stock, which included the exercise in full of the underwriters’ option to purchase 600,000 additional shares of its Class A common stock, at a public offering price of $110.00 per share. Including the option exercise, the aggregate gross proceeds from the offering were $506 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. All of the shares were offered by the Company.

J.P. Morgan Securities LLC, BofA Securities and Cowen and Company, LLC acted as lead joint book-running managers for the offering.  Stifel and William Blair acted as co-managers for the offering.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission, and became effective on September 10, 2020. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained by contacting: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com  and Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com.

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

Contacts
Investors:
investors@10xgenomics.com

Media:
media@10xgenomics.com

FAQ

What was the stock offering price for 10x Genomics (TXG) on September 15, 2020?

The stock offering price for 10x Genomics (TXG) was $110.00 per share.

How many shares did 10x Genomics (TXG) offer in its September 2020 public offering?

10x Genomics (TXG) offered a total of 4,600,000 shares in its September 2020 public offering.

What were the gross proceeds from the 10x Genomics (TXG) stock offering?

The gross proceeds from the stock offering were $506 million.

Who were the lead managers for the 10x Genomics (TXG) stock offering?

The lead managers for the offering were J.P. Morgan Securities LLC, BofA Securities, and Cowen and Company.