GenMark Prices Public Offering of Common Stock

Nachrichtenquelle: globenewswire
07.05.2020, 04:59  |  188   |   |   

CARLSBAD, Calif., May 06, 2020 (GLOBE NEWSWIRE) -- GenMark Diagnostics, Inc. (NASDAQ: GNMK) (“GenMark” or the “Company”), a molecular diagnostics company focused on developing and commercializing multiplex molecular diagnostic solutions designed to enhance patient care, improve key quality metrics, and reduce the total cost-of-care, today announced the pricing of its previously announced underwritten public offering of 7,253,886 shares of its common stock at a public offering price of $9.65 per share. The gross proceeds to GenMark, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $70.0 million. The offering is expected to close on or about May 11, 2020, subject to customary closing conditions.

GenMark has granted the underwriters a 30-day option to purchase up to an additional 1,088,082 shares at the public offering price, less underwriting discounts and commissions.

Cowen and William Blair are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager for the offering. BTIG and Needham & Company are acting as co-managers for the offering.

GenMark intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, increasing its working capital, funding research and development, and capital expenditures, including menu expansion and increasing its manufacturing capacity and yield to address future market opportunities. GenMark may also use a portion of the net proceeds for the repayment of its existing indebtedness under its loan and security agreement with Solar Capital Partners

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the “SEC”) and became effective on December 7, 2018. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and a final prospectus supplement relating to the offering will be filed with the SEC, and copies of each will be available on the SEC’s website located at http://sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained when available, from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606; Phone: (800) 621-0687; Email: prospectus@williamblair.com.

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GenMark Diagnostics Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



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GenMark Prices Public Offering of Common Stock CARLSBAD, Calif., May 06, 2020 (GLOBE NEWSWIRE) - GenMark Diagnostics, Inc. (NASDAQ: GNMK) (“GenMark” or the “Company”), a molecular diagnostics company focused on developing and commercializing multiplex molecular diagnostic solutions designed to …

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