Health and Healthcare
Genoptix Insiders & Backers Cutting Stake in Secondary Offering (GXDX)
Published:
The venture backers and the officers and insiders Genoptix (NASDAQ: GXDX) have filed to sell 4.2 million shares of common stock in a secondary offering, which could be up to 4.83 million shares of common stock if the overallotment shares are allocated. This represents roughly an extra one-third being added to the float and the outstanding shares after this offering is listed as being 16,095,270 shares.
Lehman Brothers has been tapped as the lead underwriter and co-managers are listed as Banc of America, UBS, and Cowen & Co.
Genoptix is a specialized laboratory service provider focused on delivering personalized and comprehensive diagnostic services to community-based hematologists and oncologists. All proceeds are going to selling shareholders.
Genoptix shares are indicated down 1.4% at $30.06 in pre-market indications. This has been public less than 6 months and has traded in a range of $23.40 to $37.88, and it trades roughly 108,000 shares per day.
Jon C. Ogg
February 14, 2008
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