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news.Genoptix has closed its initial public offering of five million shares and the underwriters of the offering have exercised in full their 30-day option to purchase an additional 750,000 shares of common stock, which includes 450,000 shares sold by Genoptix and 300,000 shares sold by certain selling stockholders.
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The purchase price of the shares was $17 per share. Genoptix sold a total of 4,735,714 shares in the offering, resulting in net proceeds of approximately $72.7 million after deducting the underwriting discounts and commission and the estimated offering expenses.
The offering is being made through an underwriting syndicate led by Lehman Brothers, acting as sole book-running manager. Banc of America Securities is acting as joint lead manager and Cowen and Company as co-manager.
Carlsbad, California-based Genoptix is a specialized laboratory service provider focused on delivering personalized and comprehensive diagnostic services to community-based hematologists and oncologists.