Pacific Biosciences of California, Inc. (NASDAQ:PACB) (“PacBio”) today announced that it has priced its previously announced underwritten public offering of 17,500,000 shares of its common stock at a price to the public of $10.00 per share. PacBio has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares are to be sold by PacBio. Before deducting the underwriting discount and estimated offering expenses payable by PacBio, PacBio expects to receive gross proceeds of approximately $175.0 million, assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about January 27, 2023 subject to satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Cowen and Company, LLC and Allen & Company LLC are acting as Joint Book Running managers for the offering.
PacBio intends to use the net proceeds from the offering for research and development, commercial infrastructure expansion and working capital and general corporate purposes. PacBio may also use a portion of the net proceeds from this offering to acquire or invest in complementary businesses, technologies, product candidates or other intellectual property, although it has no present commitments or agreements to do so.
PacBio filed a shelf registration statement relating to the shares of common stock with the Securities and Exchange Commission (the “SEC”) on November 10, 2020, which became automatically effective upon filing and has filed a preliminary prospectus supplement and accompanying prospectus relating to the offering with the SEC on January 24, 2023. A final prospectus supplement and accompanying prospectus relating to the offering will also be filed with the SEC and will be available on the SEC’s website. When available, copies of the final prospectus supplement and the accompanying prospectus may be obtained from:
