Pacific Biosciences Of California Prices Offering At $3.10/Share

(RTTNews) - Pacific Biosciences of California, Inc. (PACB) has offered to sell 15.42 million shares of its common stock to the public at a price of $3.10 each. The underwriter has a 30-day option to purchase up to an additional 2.31 million shares of its common stock.

The offering is expected to rake in net proceeds of approximately $45.9 million, and is scheduled to close on or about June 20, 2017.

Pacific Biosciences plans to use this offering net proceeds for general corporate purposes, including capital expenditures and working capital, and may also use a portion of the proceeds to acquire or invest in complementary businesses, technologies, product candidates or other intellectual property.

PACB closed Thursday's regular trading session down 1.20% at $3.30.