Published on June 20, 2012 at 12:13 AM
GenMark Diagnostics, Inc. (NASDAQ: GNMK),
a provider of automated, multiplex molecular diagnostic testing systems,
announced today that it intends to commence an underwritten public
offering of 10,000,000 shares of its common stock. All of the shares in
the proposed offering are to be sold by GenMark.
J.P. Morgan Securities LLC will act as sole book-running manager for the
proposed offering. GenMark intends to grant the underwriters a 30-day
option to purchase up to an additional 1,500,000 shares to cover
over-allotments, if any. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The Company intends to use the net proceeds from the public offering for
research and development as it relates to acceleration of menu expansion
and development of its NexGen System, as well as expansion of its U.S
and global commercial organizations.
Source: GENMARK