Diagnostics company Cancer Genetics sets terms for $48 million US IPO

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Cancer Genetics, which offers proprietary genomic tests to improve the diagnosis, prognosis and treatment of cancer, announced terms for its IPO on Monday. The Rutherford, NJ-based company plans to raise $48 million by offering 4 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Cancer Genetics would command a market value of $112 million. Cancer Genetics, which was founded in 1999 and booked $3 million in sales for the 12 months ended 3/31/2012, plans to list on the NASDAQ under the symbol CGIX. William Blair and Baird are the joint bookrunners on the deal.

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This article appears in: Investing , IPOs


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