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8-K - 8-K - NANOSPHERE INC | d382461d8k.htm |
Exhibit 99.1
Nanosphere, Inc.
4088 Commercial Avenue
Northbrook, IL 60062
NEWS
For Immediate Release
Nanosphere Prices $25.2 million Public Offering of Common Stock
Northbrook, IllJuly 19, 2012Nanosphere, Inc. (the Company) (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, today announced the pricing of its previously announced underwritten public offering of 10,500,000 shares of its common stock at a public offering price of $2.40 per share. In connection with the offering, the Company has also granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of common stock to cover over-allotments, if any. Piper Jaffray & Co. is acting as the sole book-running manager and Roth Capital Partners is acting as co-manager for the offering.
Net proceeds from the sale of the shares after underwriting discounts and commissions and other offering expenses are expected to be approximately $23.4 million. If the underwriters exercise their over-allotment option in full, net proceeds from the offering will be approximately $26.9 million. The offering is subject to customary closing conditions and is expected to close on Tuesday, July 24, 2012.
The Company plans to use the net proceeds from the offering for general corporate purposes and working capital.
The offering was made pursuant to a prospectus supplement to the Companys prospectus, dated September 15, 2009, filed as part of the Companys effective $100 million shelf registration statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will 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 registration or qualification under the securities laws of any such state or other jurisdiction.
Copies of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or by email at prospectus@pjc.com.
About Nanosphere, Inc.
Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene® System, for detection of life threatening infections and cardiovascular diseases. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL. Additional information is available at http://www.nanosphere.us.
Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (i) Nanospheres ability to develop commercially viable products; (ii) Nanospheres ability to achieve profitability; (iii) Nanospheres ability to produce and market its products; (iv) Nanospheres ability to obtain regulatory approval of its products; (v) Nanospheres ability to protect its intellectual property; (vi) competition and alternative technologies; and (vii) Nanospheres ability to obtain additional financing to support its operations. Additional risks are discussed in the Companys current filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact:
Investors:
Nanosphere, Inc.
Roger Moody, 847-400-9021
Chief Financial Officer
rmoody@nanosphere.us
or
Media
The Torrenzano Group
Ed Orgon, 212-681-1700
ed@torrenzano.com