Nanosphere Prices Underwritten Public Offering Of 15 Mln Shares At $1.75/shr

(RTTNews) - Nanosphere, Inc.(NSPH), a developer of advanced molecular diagnostics systems, Friday said it priced its earlier announced underwritten public offering of 15 million common shares at $1.75 per share. The company has also granted underwriters a 30-day options for an additional purchase of up to 2.25 million shares. The offering is expected to close on September 18.

The company intends to use the net proceeds of about $24.1 million for general corporate purposes and working capital. If the underwriters exercise their over-allotment option in full, net proceeds from the offering will be about $27.7 million, Nanosphere said.

Piper Jaffray & Co. is acting as the sole book-running manager and Canaccord Genuity Inc. and Cowen and Company, LLC acted as co-managers for the offering.