GenMark Diagnostics, Inc. (NASDAQ:
), a provider of automated, multiplex molecular diagnostic testing systems, announced today that it intends to commence an underwritten public offering of 10,000,000 shares of its common stock. All of the shares in the proposed offering are to be sold by GenMark.
J.P. Morgan Securities LLC will act as sole book-running manager for the proposed offering. GenMark intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares to cover over-allotments, if any. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds from the public offering for research and development as it relates to acceleration of menu expansion and development of its NexGen System, as well as expansion of its U.S and global commercial organizations.
A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and is effective. A preliminary prospectus supplement relating to the offering has been filed with the SEC. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.