GenMark Diagnostics Announces Proposed Public Offering Of Common Stock
GenMark Diagnostics, Inc. (NASDAQ:
leading provider of automated, multiplex molecular diagnostic testing
systems, announced today that it intends to commence an underwritten
public offering of $60,000,000 of...
GenMark Diagnostics, Inc. (NASDAQ: GNMK), a leading provider of automated, multiplex molecular diagnostic testing systems, announced today that it intends to commence an underwritten public offering of $60,000,000 of 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 $9,000,000 of additional shares. 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. GenMark intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, the acceleration of its test menu and NexGen platform development, the expansion of its domestic commercial team, the acceleration of its international expansion, increases in administrative infrastructure to support its international and domestic expansion, automation of its manufacturing infrastructure and other working capital requirements. 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.