Deal Details
Follow-on Offering
Summary
Baird served as a lead manager on the offering
About
Nanostring Technologies, Inc. (“Nanostring”, the “Company”) (NASDAQ:NSTG) recently completed a follow-on offering of 4,600,000 shares, which includes 600,000 shares solely to cover over-allotments, at a price of $12.50 per share, generating gross proceeds of $57.5 million. Nanostring intends to use the net proceeds from this offering for the development and launch of its Digital Spatial Profiling platform, the continued commercialization of its portfolio of nCounter-based products, and for general corporate purposes and working capital.Nanostring develops, manufactures and sells robust, intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. Nanostring’s nCounter Analysis System directly profiles hundreds of molecules simultaneously using a novel barcoding technology that is powerful enough for use in research, yet simple enough for use in clinical laboratories worldwide. The Company markets its systems and related consumables to researchers in academic, government, and biopharmaceutical laboratories for use in understanding fundamental biology and the molecular basis of disease and to clinical laboratories and medical centers for diagnostic use. As of June 30, 2018, Nanostring had an installed base of approximately 670 nCounter systems, which customers have used to publish more than 2,000 peer-reviewed papers, more than half of which are related to oncology and oncology-related subcategories. Nanostring is headquartered in Seattle, Washington.
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- Date
- July 2018
- Company
- NanoString Technologies, Inc.
- Transaction
- M&A
- Sectors
- Healthcare
- Target Geography
- North America
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