By Ronda Fears
Memphis, May 19 - Illumina, Inc. raised $89.25 million in proceeds from a follow-on offering of 3.5 million shares priced at $25.50 each, discounted from Thursday's close of $25.90.
Joint lead managing bookrunners of the offering were Goldman Sachs & Co. and Merrill Lynch & Co. Cowen & Co. also was a co-lead manager.
San Diego-based Illumina, which makes tools for the analysis of genetic variation and function, plans to use proceeds to fund research and development, to continue expanding manufacturing capacity as required and for working capital needs.
| Issuer: | Illumina, Inc.
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| Issue: | Follow-on stock offering
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| Gross proceeds: | $89.25 million
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| Net proceeds: | $83.6 million
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| Shares: | 3.5 million
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| Greenshoe: | 525,000 shares
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| Price: | $25.50 per share
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| Bookrunners: | Goldman Sachs & Co. and Merrill Lynch & Co.
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| Co-lead manager: | Cowen & Co.
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| Co-manager: | Robert W. Baird & Co. Inc.
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| Pricing date: | May 18
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| Settlement date: | May 24
|
| Stock symbol: | Nasdaq: ILMN
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| Stock price: | $25.90 on May 18
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