Nanosphere closes $30M offering

September 18, 2013 by Brad Perriello

Nanosphere says it closed a more than $30 million public offering, including an over-allotment purchased by the offering's underwriters.

Nanosphere closes $28M offering

Nanosphere (NSDQ:NSPH) pulled down $30.2 million in a public offering of some 17.3 million shares, including a substantial over-allotment snapped up by the offering's underwriters.

The $1.75-per-share offering closed today, with underwriters Piper Jaffray & Co., Canaccord Genuity Inc. and Cowen & Co. purchasing the nearly 2.3 million-share over-allotment, Northbrook, Ill.-based Nanosphere said.

Net proceeds of $27.7 million are slated for "general corporate purposes and working capital," according to a press release.

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Nanosphere makes molecular diagnostics devices, including the Verigene system, which uses gold nanoparticles to detect pathogens and drug-resistant marker by mapping bacterial genomes, the company said.