Cancer Genetics decreases proposed IPO deal size

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Cancer Genetics, which offers personalized genomic tests to improve the diagnosis and treatment of cancer, lowered the proposed deal size for its upcoming IPO on Thursday. The Rutherford, NJ-based company now plans to raise $25 million by offering 5.0 million shares at a price range of $4 to $6. The company had previously filed to offer 5.0 million shares at a range of $6 to $8. At the midpoint of the revised range, Cancer Genetics will raise -29% fewer proceeds than previously anticipated.

Cancer Genetics, which was founded in 1999 and booked $4 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol CGIX. Aegis Capital is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: News Headlines IPOs
Referenced Stocks: CGIX


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