PacBio prices 17.5M-share offering at $10/shr; expected net proceeds ~$189.2M

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Sold 17.5M shares plus full exercise of underwriter option for 2.625M additional shares at $10.00 per share.
Gross proceeds ~$175M before option; net proceeds after discounts/expenses expected ~$189.2M.
Net proceeds to fund R&D, commercial infrastructure, working capital, and potential acquisitions.
Underwriters include Goldman Sachs, Morgan Stanley, Cowen, and Allen & Company; offering closed January 27, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PACIFIC BIOSCIENCES OF CALIFORNIA, INC. entered into Underwriting Agreement with Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Cowen and Company, LLC, as representatives of the several underwriters named therein valued at approximately $189.2 million (effective 2023-01-24).

Action: entry
Agreement: underwriting
Counterparty: Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Cowen and Company, LLC, as representatives of the several underwriters named therein
Value: approximately $189.2 million
Effective: 2023-01-24

Exact text from the filing

On January 24, 2023, Pacific Biosciences of California, Inc. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Cowen and Company, LLC, as representatives of the several underwriters named therein

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PACIFIC BIOSCIENCES OF CALIFORNIA, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-007513

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