10x Genomics Inc. has upsized its planned IPO on the Nasdaq Global Select Market.
The Pleasanton, Calif.-based life science technology company now expects to sell 9 million class A shares at between $31 and $35 each. At the midpoint of that price range, the company would end up raising about $271 million, higher than the $100 million it was initially planning to raise.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BofA Securities Inc. and Cowen and Co. LLC are the underwriters of the IPO and have an option to buy up to an additional 1.35 million class A shares from the company.
10x Genomics plans to use the proceeds for general corporate purposes, including working capital, operating expenses and capital expenditures. It may use a portion of the proceeds to acquire businesses, products or technologies.
10X makes instruments, consumables and software for analyzing biological systems.
