10x Genomics Announces Pricing of Upsized Public Offering

Rhea-AI Summary

10x Genomics, Inc. (NASDAQ: TXG) announced a public offering of 4,000,000 shares of its Class A common stock, priced at $110.00 each. An additional 600,000 shares may be purchased by underwriters. The offering is expected to close on September 15, 2020, pending customary closing conditions. The underwriting group consists of J.P. Morgan Securities LLC, BofA Securities, and Cowen and Company, with Stifel and William Blair as co-managers. This offering aims to strengthen the company's capital position.

Positive

• Offering 4,000,000 shares at $110.00 each may raise significant capital.
• Potential for additional 600,000 shares to be sold, increasing total proceeds.

Negative

• Dilution risk for existing shareholders due to new shares being issued.

PLEASANTON, Calif., Sept. 10, 2020 (GLOBE NEWSWIRE) -- 10x Genomics, Inc. (NASDAQ: TXG) (the “Company”) today announced the pricing of an upsized underwritten public offering by the Company of its Class A common stock at a price to the public of $110.00 per share, before underwriting discounts and commissions. 10x Genomics is offering 4,000,000 shares of its Class A common stock, plus up to an additional 600,000 shares of its Class A common stock that the underwriters have the right to purchase at the public offering price, less the underwriting discounts and commissions. All of the shares are being offered by the Company. The offering is expected to close on September 15, 2020, subject to customary closing conditions.

The offering is being made through an underwriting group led by J.P. Morgan Securities LLC, BofA Securities and Cowen and Company, LLC. Stifel and William Blair are acting 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.

This offering is being made only by means of a prospectus, copies of which 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 the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to the closing of the Company’s offering. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology. These forward-looking statements are subject to significant risks and uncertainties, including, without limitation, risks and uncertainties related to economic, market or business conditions and satisfaction of customary closing conditions related to the offering, that could cause the Company’s actual results to differ materially from those expressed in these forward-looking statements. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

Contacts:

Investors
investors@10xgenomics.com

Media
media@10xgenomics.com

FAQ

What is the purpose of 10x Genomics' public offering on September 10, 2020?

The offering aims to raise capital by selling 4,000,000 shares of Class A common stock.

What is the share price for the public offering of 10x Genomics?

The shares are being offered at a price of $110.00 each.

How many additional shares can underwriters purchase in the offering?

Underwriters have the option to purchase up to an additional 600,000 shares.

When is the expected closing date for the offering by 10x Genomics?

The offering is expected to close on September 15, 2020.

Who are the underwriters for 10x Genomics' stock offering?

The offering is led by J.P. Morgan Securities LLC, BofA Securities, and Cowen and Company.