Digene plans follow-on sale of 2 million shares, secondary of 1 million shares via JP Morgan

By Ronda Fears

Nashville, Nov. 9 - Digene Corp. launched a follow-on offering of 2 million shares to be sold in conjunction with a secondary offering of 1 million shares by primary shareholder Armonk Partners via bookrunner J.P. Morgan.

Pricing is slated for Nov. 16.

Joint lead manager is Thomas Weisel Partners. Co-managers are Goldman Sachs and SG Cowen.

There is a total greenshoe of 450,000 shares available.

Gaithersburg, Md.-based Digene develops DNA and RNA testing systems with a focus on women's cancers and infectious diseases.

Proceeds, estimated at $56.6 million based on an offering price of $30.17 per share, are earmarked for working capital and other general corporate purposes, including research and development expenditures, sales and marketing expenditures, capital expenditures and potential acquisitions.

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