Sequenom Announces Initial Public Offering of Common Stock
30.11.1999, 15:35
San Diego (PROTEXT) - Sequenom, Inc. announced today that ithas filed a registration statement with the Securities andExchange Commission for a public offering of common stock leadmanaged by Warburg Dillon Read LLC. Robertson Stephens and SGCowen will also manage the offering. The underwriters will begranted a 30-day over-allotment option to purchase additionalshares of common stock from the company. The company intends to use the proceeds of the offeringprimarily for general corporate purposes, including hiring ofadditional sales and customer support personnel, expansion of itsfacilities, continued development and manufacturing of existingproducts, research and development of additional products, patentprosecution expenses, working capital and potential acquisitionsof products, technologies or companies, and repayment of long-term debt and accrued interest of approximately $4.2 million. Sequenom is a pioneer in the new field of industrial genomics,the large-scale commercial use of the knowledge of DNAvariations, or SNPs, for improving health, agriculture andlivestock. The company's MassArray system combines proprietaryenzymology and bioinformatics in a miniaturized chip-based formatwith the proven technology of mass spectrometry. The result is ahighly accurate, cost-effective and scalable technology capableof high- throughput SNP analysis. The Company is engaged in beta site testing with the U.S.Department of Agriculture, National Institutes of Health,National Cancer Institute and Genzyme Corporation in the U.S. andUniversity of Munster and GLE Medicon in Germany. A registration statement relating to these securities has beenfiled with the Securities and Exchange Commission but has not yetbecome effective. These securities may not be sold nor may offersto buy be accepted prior to the time the registration statementbecomes effective. This press release shall not constitute anoffer to sell or the solicitation of an offer to buy nor shallthere be any sale of these securities in any State in which suchoffer, solicitation or sale would be unlawful prior toregistration or qualification under the securities laws of anysuch State. ots Original Text Service: Sequenom, Inc. Internet:http://www.newsaktuell.de Contact: Abigail Devine of Sequenom,Inc. Investor Relations, (USA) 858-350-0345,adevine@sequenom.com; or Media: Amy Giller of Noonan/RussoCommunications, Inc. Financial Communications, (USA) 415-677-4455ext. 206, a.giller@noonanrusso.com, for Sequenom, Inc.
---------+---------+---------+---------+---------+---------+---------News Aktuell Tel.: +49 40 4113-2866 ---------+---------+---------+---------+---------+---------+---------
Subscribers please note that material bearing the slug"PROTEXT" is not part of CTK's news service and is not to bepublished under the "CTK" slug. Protext is a commercial serviceproviding distribution of press releases from clients, who areidentified in the text of Protext reports and who bear fullresponsibility for their contents.
PROTEXT