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UPDATE 1-Pacific Biosciences to raise up to $230 mln in IPO
* To offer 12.5 mln shares at $15-$17 apiece
* Sees net proceeds of $182.5 mln
* Plans to invest $60-$70 mln of proceeds in tech platform
* Over-allotment option of 1.9 mln shrs
* To list under ticker symbol "PACB" on Nasdaq
Oct 5 (Reuters) - Pacific Biosciences of California Inc said it expects to raise up to $230 million in an initial public offering of its common stock.
The Menlo Park, California-based company expects to offer 12.5 million shares at $15-$17 each, with an over-allotment option of 1.9 million shares, it said in an amended filing.
The life sciences company, which designs machines to speed up DNA sequencing in labs, sees net proceeds of $182.5 million, assuming the offering priced at $16 per share, the mid-point of the range.
The company plans to invest about $60-$70 million of the proceeds in its technology platform called single molecule, real-time, or SMRT technology.
Pacific Biosciences initially filed for an IPO in August. The amended filing detailed the expected pricing of the common stock sale. [ID:nSGE67F0JN]
JP Morgan, Morgan Stanley, Deutsche Bank and Piper Jaffray are underwriting the IPO, the company said.
Pacific Biosciences plans to list its shares under the ticker symbol "PACB" on Nasdaq. (Reporting by Abhinav Sharma in Bangalore; Editing by Gopakumar Warrier)
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