10X Genomics Inc. plans an IPO of up to $100 million of its class A common shares on the Nasdaq Global Select Market.
The Pleasanton, Calif.-based life science technology company has applied to list its shares on the exchange under the ticker TXG.
10X Genomics' registration statement said the IPO is intended to increase its capitalization and financial flexibility, create a public market for its class A common stock, and provide the company and its stockholders access to the public equity markets.
The company plans to use the net proceeds from the offering 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.
Serge Saxonov has been CEO and a board member since July 2012. Before co-founding the company with its current Chief Scientific Officer Benjamin Hindson, Saxonov was vice president of applications at QuantaLife, a privately held life sciences company that developed and commercialized a droplet digital polymerase chain reaction platform.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BofA Securities Inc. and Cowen and Co. LLC are acting as underwriters in connection with the IPO.
