October 31, 2007 / 10:52 PM / in 10 years

Nanosphere Inc IPO raises $98 mln, bottom of range

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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