NEW YORK – NeoGenomics said late on Wednesday that it has priced a public offering of its common stock and convertible senior notes for a total of $500 million in gross proceeds.
The Fort Myers, Florida-based firm is offering 4,081,632 shares of its common stock at $49.00 per share. It also is offering $300 million aggregate principal amount of its .25 percent convertible senior notes due January 2028 for gross proceeds of $300 million.
NeoGenomics said it will use the net proceeds from the offering for general corporate purposes. The firm may also use a portion of the net proceeds to acquire or invest in complementary businesses and technology.
Bank of America Securities, Morgan Stanley, and Goldman Sachs are acting as representatives of the underwriters and book-running managers for the offering. SVB Leerink is also a book-running manager, while Craig-Hallum Capital Group, Needham & Company, Raymond James, and Stephens are acting as comanagers.
NeoGenomics has granted the underwriters a 30-day stock option to purchase up to an additional 612,244 shares of its common stock at the public offering price and $45 million aggregate principal amount of the notes. The offering is expected to close around Jan. 11, 2021, the firm said.
NeoGenomics' stock was up two percent at $52.40 in early Thursday morning trading on the Nasdaq.