Nanosphere Prices Public Offering Of 40 Mln Shares At $0.50/share - Quick Facts

(RTTNews) - Nanosphere, Inc. (NSPH) Wednesday announced the pricing of its previously announced underwritten public offering of 40 million shares of its common stock at a public offering price of $0.50 per share.

In connection with the offering, the company has also granted the underwriters a 30-day option to purchase up to an additional 6 million shares of common stock to cover over-allotments, if any.

As part of the fee payable to the underwriters in connection with the offering, the firm will issue 400,000 shares of common stock to the underwriters, plus up to an additional 60,000 shares of common stock in the event that the underwriters exercise their over-allotment option.

Net proceeds from the sale of the shares of common stock after underwriting discounts and commissions and other offering expenses are expected to be about $18.4 million.

If the underwriters exercise their over-allotment option in full, net proceeds from the offering will be around $21.2 million. The offering is expected to close on October 27.