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NEW YORK – Fulgent Genetics priced after the close of the market on Wednesday a public offering of approximately 2.3 million shares of its common stock at $11.25 per share.

The genetic testing firm said it expects gross proceeds of approximately $26.2 million and will use the funds for working capital and general corporate purposes.

Piper Jaffray is acting as sole book-running manager and BTIG is acting as lead manager on the offering. The Temple City, California-based company said it is granting the underwriters a 30-day option to purchase up to 348,750 additional shares.

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