Pacific Biosciences of California Inc. is planning a public offering of its common shares.
The Menlo Park, Calif.-based company intends to grant the underwriters an option to buy up to an additional 15% of the shares sold in the offering.
Pacific Biosciences intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures and working capital. It may also use part of the proceeds to acquire or invest in complementary businesses and technologies.
Cowen and Co. LLC and Cantor Fitzgerald & Co. are acting as the joint book-running managers for the offering.
Pacific Biosciences is a life sciences company that develops sequencing systems to help scientists resolve genetically complex problems.