Oct 17 Nanosphere Inc on Wednesday registered
its initial public offering of 7 million shares at an estimated
price of $14 to $16 per share.
The developer of diagnostic tests said in an amended filing
with the U.S Securities and Exchange Commission that it expects
proceeds of $95 million, assuming an IPO price of $15.
Nanosphere said it plans to use some of the proceeds to
finance ongoing research to develop additional genomic and
Credit Suisse, Piper Jaffray, Leerink Swann and Allen & Co
LLC are underwriting the IPO and have an option to buy a
maximum of about 1.1 million additional shares to cover
Nanosphere's initial market capitalization will be in the
region of $321.8 million, assuming an IPO price of $15 a share,
the mid-point of its range.
The Northbrook, Illinois-based company, which reported a
net loss of $15.1 million in the first half of 2007, said it
applied for a Nasdaq listing under the symbol "NSPH."
(Reporting by Sayantani Ghosh in Bangalore)