Bioinformatics instrument maker 10x Genomics increases proposed IPO range to $36 to $38
10x Genomics, which provides a single-cell sequencing platform for biomedical research, increased the proposed range for its upcoming IPO on Tuesday.
The Pleasanton, CA-based company now plans to raise $333 million by offering 9 million shares at a price range of $36 to $38. The company had previously filed to offer 9 million shares at a range of $31 to $35. At the midpoint of the revised range, 10x Genomics will raise 12% more in proceeds than previously anticipated to command a fully diluted market value of $4.0 billion.
10x Genomics was founded in 2012 And booked $197 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol TXG. J.P. Morgan, Goldman Sachs, and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of September 9, 2019.
The article Bioinformatics instrument maker 10x Genomics increases proposed IPO range to $36 to $38 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.