The firm has launched both a public offering of common stock as well as a private placement of warrants, expecting to bring in around $20 million from the transactions.
Exagen, which develops and markets autoimmune tests, went public on the Nasdaq today and expects gross proceeds of $50.4 million from its IPO.
The firm is offering approximately 13.8 million shares and the same number of warrants to purchase shares, which will be sold together.
The genetic testing firm has entered into an equity distribution agreement with Piper Jaffray to offer up to $30 million in stocks, with an initial offering of $22.5 million.
The firm offered more than 2.7 million shares of its common stock, including 356,435 shares to its underwriters pursuant to an option to purchase additional shares.
The firm it plans to offer from time to time units of its common stock, preferred stock, one or more debt securities, warrants, or rights to such securities in one or more series.
The firm expects to use proceeds from the offering to expand its life sciences commercial operations, and improve and update its Simoa technology and instruments, among other initiatives.
Quanterix intends to grant underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock at the public offering price.
The firm expect to raise gross proceeds of $15 million, or $17.25 million if the offering's underwriter exercises its option to purchase additional shares.
The firm plans to use the funds raised to support business activities, as it moves forward in the development of cancer early detection tests.