LipoScience Press Release – LipoScience Prices Initial Public Offering
News | 01. 25. 2013
RALEIGH, N.C. – January 25, 2013 – LipoScience, Inc.(NASDAQ: LPDX) today announced the pricing of its initial public offering of 5,000,000 shares of common stock at a price to the public of $9.00 per share. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol “LPDX” on Friday, January 25, 2013. All of the shares are being offered by LipoScience. In addition, LipoScience has granted the underwriters a 30-day option to purchase an aggregate of up to an additional 750,000 shares at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments. LipoScience, Inc. expects to receive, after deducting underwriting discounts and commissions and estimated offering expenses payable by us, net proceeds of approximately $38.6 million from the offering and intends to use the net proceeds to hire additional sales and marketing personnel and to support costs associated with increased sales and marketing activities, for capital expenditures,including components of the Vantera® system, to fund its research and development programs, including the expansion of its diagnostic test menu based on the Vantera system, to pay accrued dividends in the amount of $5.2 million on shares of preferred stock that will convert into common stock upon the closing of the offering, and the balance for other general corporate purposes, including general and administrative expenses, working capital and the potential repayment of indebtedness.
© 2019 Pappas Capital, LLC. ALL RIGHTS RESERVED.