Illumina Gets Secondary Behind It (ILMN)

Posted: August 7, 2008 at 7:17 am

Illumina Inc. (NASDAQ: ILMN) has priced its proposed secondary offering of 3.5 million shares at $87.50 per share.  This will result in net proceeds of roughly $297.9 million. The sole manager of the offering is Goldman Sachs.

While that is a $1.75 discount from yesterday’s close, it is down from recent highs of $95.75 and around the lows of two-days ago.  Some secondary pricings look bad for holders, but this one doesn’t look too bad with shares down $1.00 from yesterday’s close.

Jon C. Ogg
August 7, 2008

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