Genoptix Insiders & Backers Cutting Stake in Secondary Offering (GXDX)

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By Douglas A. McIntyre Published
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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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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