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NanoString Technologies closes $68.3M common stock offering

NanoString Technologies Inc. closed an underwritten public offering of 3,175,000 of its common shares priced at $23.00 apiece.

Stocks sold include the 675,000 additional common shares underwriters bought as part of their overallotment option.

Seattle-based NanoString said in March 25 news release that it raised about $68.3 million in net proceeds from the offering.

The life sciences tools and services company plans to use the net proceeds of the offering for working capital and general corporate purposes.

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

Concurrently, NanoString's stockholder Clarus Lifesciences II LP, a private equity fund, sold 2 million of the company's common shares at $23.00 apiece. NanoString will not receive any proceeds from the sale of the common shares by Clarus.

NanoString Technologies is a provider of life science tools for translational research and molecular diagnostic products. The company offers the nCounter Analysis System, an automated, multiapplication, digital detection and counting system.