Illumina Gets Secondary Behind It (ILMN)
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…
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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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