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8-K - FORM 8-K - NANOSPHERE INC | c16941e8vk.htm |
Exhibit 99.1
Nanosphere, Inc. Prices Public Offering of Common Stock
Northbrook, IllMay 10, 2011Nanosphere, Inc. (the Company) (Nasdaq:NSPH), a leader in the
development and commercialization of advanced molecular diagnostics systems, today announced the
pricing of its previously announced underwritten public offering of 13,640,000 shares of its common
stock at a public offering price of $2.20 per share. In connection with the offering, the Company
has also granted the underwriters a 30-day option to purchase up to an additional 2,046,000 shares
of common stock to cover over-allotments, if any. Piper Jaffray & Co. is acting as the sole
book-running manager and Roth Capital Partners, LLC is acting as co-manager for the offering.
Net proceeds from the sale of the shares after underwriting discounts and commissions and other
offering expenses are expected to be approximately $27.9 million. If the underwriters exercise
their over-allotment option in full, net proceeds from the offering will be approximately $32.1
million. The offering is subject to customary closing conditions and is expected to close on
Friday, May 13, 2011.
The Company plans to use the net proceeds from the offering for general corporate purposes and
working capital.
The offering was made pursuant to a prospectus supplement to the Companys prospectus, dated
September 15, 2009, filed as part of the Companys effective $100 million shelf registration
statement. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy any securities nor will there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such state.
Copies of the final prospectus supplement and accompanying prospectus relating to these securities
may be obtained by contacting Piper Jaffray & Co., by mail at 800 Nicollet Mall, Suite 800,
Minneapolis, MN 55402, or by telephone at (800) 747-3924.
About Nanosphere, Inc.
Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene® System, for direct genomic and ultra-sensitive protein detection. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL.
Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene® System, for direct genomic and ultra-sensitive protein detection. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL.
Except for historical information, the matters discussed in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to risks and
uncertainties. Actual results could differ materially from these forward-looking statements.
Factors that could cause or contribute to such differences include, but are not limited to, the
following: (i) Nanospheres ability to develop commercially viable products; (ii) Nanospheres
ability to achieve profitability; (iii) Nanospheres ability to produce and market its products;
(iv) Nanospheres ability to obtain regulatory approval of its products; (v) Nanospheres ability
to protect its intellectual property; (vi) competition and alternative technologies; and (vii)
Nanospheres ability to obtain additional financing, if and when necessary, to support its
operations. Additional risks are discussed in the Companys current filings with the Securities and
Exchange Commission. Although the Company believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it can give no assurance that its
expectations will be attained. The forward-looking statements are made as of the date of this press
release, and we undertake no obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
Contact: |
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Investors:
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Media: | |
Nanosphere, Inc.
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The Torrenzano Group | |
Roger Moody, 847-400-9021
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Ed Orgon, 212-681-1700 | |
Chief Financial Officer
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ed@torrenzano.com | |
rmoody@nanosphere.us |
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