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NanoString raises $53.9M from public offering to fund gene research products

NanoString Technologies Inc. said underwriters of its public offering have exercised their option to buy an additional 600,000 common shares.

The Seattle-based life sciences company offered a total of 4.6 million shares at $12.50 apiece to raise approximately $53.9 million in net proceeds, according to an Aug. 13 release. NanoString plans to use the proceeds to develop its digital spatial profiling platform and continued commercialization of its nCounter portfolio. Additional proceeds will be used for general corporate purposes and working capital.

J.P. Morgan and UBS Investment Bank acted as joint book-running managers, while Baird acted as lead manager for the offering.