10x Genomics Inc. raised $448.5 million in gross proceeds in its IPO on the Nasdaq Global Select Market.
The Pleasanton, Calif.-based life science technology company sold a total of 11.5 million shares of its class A common stock at $39 apiece. This includes an additional 1.5 million shares sold as underwriters exercised their overallotment option.
Shares of 10x Genomics began trading on the Nasdaq Global Select Market on Sept. 12 under the ticker symbol TXG.
The company, which makes instruments, consumables and software for analyzing biological systems, intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses and capital expenditures. A portion of the proceeds may be used to acquire businesses, products or technologies.
J.P. Morgan LLC, Goldman Sachs & Co. LLC and Bank of America Merrill Lynch were the lead joint book-running managers, while Cowen was the lead manager for the offering.
