Biostorage services provider Cryoport closes $287.5M common share offering

Cryoport Inc. closed its offering of 4,356,059 common shares, raising about $287.5 million.

The total number of shares, sold at $66 each, includes 568,181 shares bought by the underwriters as they fully exercised their overallotment option.

Brentwood, Tenn.-based Cryoport, which provides temperature-controlled logistics and biostorage services, will use the net proceeds from the offering for general corporate purposes, which may include working capital, expansion of facilities, and sales and marketing.

Morgan Stanley, Jefferies, SVB Leerink and UBS Investment Bank were joint bookrunning managers for the transaction.