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SAN DIEGO - Genetic test maker Sequenom Inc. said Thursday it priced a public offering of 5.5 million common shares at $15.50 each, a slight discount to the stock's $15.94 closing price Wednesday.
| SQNM | 20.9 |  -0.37 |
All of the shares are being offered by Sequenom. The underwriters have a 30-day option to purchase up to an additional 825,000 shares.
Sequenom will use proceeds to develop diagnostic tests for use on its MassArray system, and for general corporate purposes.
The company currently has about 45.4 million common shares outstanding. Shares to be sold represents about 12 percent of Sequenom's outstanding stock.
Lehman Brothers Inc. and UBS Investment Bank are acting as joint book-running managers in this offering. The co-managers are Leerink Swann & Co., Lazard Capital Markets LLC, Oppenheimer & Co. and Rodman & Renshaw LLC.
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