Nanosphere Inc IPO raises $98 mln, bottom of range

NEW YORK Wed Oct 31, 2007 6:49pm EDT

NEW YORK Oct 31 (Reuters) - Nanosphere Inc, a company developing diagnostic tests for a variety of medical conditions, on Wednesday raised $98 million with an initial public offering that priced at the bottom of a forecast range.

The 7-million share offering priced at $14 per share, compared with a forecast range of $14 to $16, according to an underwriter.

Underwriters, led by Credit Suisse (CS.N), have the option to purchase an additional 1 million shares to cover overallotments.

The Northbrook, Illinois-based company plans to list its shares on Nasdaq under the symbol "NSPH." (NSPH.O) (Reporting by Lilla Zuill)

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