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UPDATE 1-Genoptix sees IPO of 5 mln shares at $14-$16 each
October 9, 2007 / 11:15 AM / in 10 years

UPDATE 1-Genoptix sees IPO of 5 mln shares at $14-$16 each

(Adds details)

Oct 9 (Reuters) - Genoptix Inc, which provides diagnostic services to hematologists and oncologists, on Tuesday registered its initial public offering of 5 million shares for an estimated price of $14 to $16 per share.

In an amended filing with the U.S Securities and Exchange Commission, the company said it plans to sell about 4.3 million shares and the rest will be sold by its stockholders.

Genoptix said it expects to use the estimated net proceeds of about $57.7 million to establish a second laboratory facility and expand backup systems, repay debt, among other purposes.

The Carlsbad, California-based company is seeking a Nasdaq listing under the symbol “GXDX”. Lehman Brothers, Banc of America Securities LLC and Cowen & Co will underwrite the IPO.

The company said it granted the underwriters a 30-day option to buy up to an additional 750,000 shares from the company. (Reporting by Deepti Chaudhary in Bangalore)

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