Digene greenshoe fully exercised to up offer to 3.45 million shares

By Jennifer Chiou

New York, Dec. 15 - Digene Corp. said the underwriters exercised in full a 450,000-share greenshoe, augmenting its follow-on offering to 3.45 million shares.

The company said it received $64.4 million in gross proceeds.

Digene sold an additional 300,000 shares at $28.00 each to up its total to 2.3 million shares and its selling stockholder Armonk Partners sold 150,000 shares of the over-allotment option to increase its total to 1.15 million shares. Digene will not receive proceeds from Armonk-sold shares.

On Nov. 15, the company priced 3 million shares at $28.00 apiece.

J.P. Morgan Securities Inc. was bookrunning manager and Thomas Weisel Partners LLC was joint lead manager.

Proceeds will go towards working capital and other general corporate purposes, including research and development and potential acquisitions.

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

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