Pacific Biosciences of California Prices Public Offering

Pacific Biosciences of California has priced its previously announced underwritten public offering of 15,419,354 shares of its common stock at a price of $3.10 per share, equal to a 7.2% discount relative to the stock’s Wednesday closing price.

Shares of Pacific Biosciences of California were down 8.7% in recent pre-market trading. Net proceeds of the offering are expected to be approximately $45.9 million, and the offering is expected to close June 20. Pacific Biosciences also granted the underwriters a 30-day option to purchase up to an additional 2,312,903 shares of its common stock.

Leave a Comment