Helicos Lowers Price and Goes Public
The stock closed down 6.3% for the month. The company plans to use $20 million of the proceeds to fund R&D, $10 million for sales and marketing, $10 million for manufacturing, and the remainder for working capital and general corporate purposes.
Cambridge, MA 5/24/07; Washington, DC 5/24/07—Helicos Biosciences completed the initial public offering of its common stock on the NASDAQ Global Market on May 24 with a pricing of 5.4 million shares at $9 per share (see IBO 2/28/07). The company had initially announced the offering at $13–$15 per share on May 7 and lowered it to $10–$11 per share on May 23. Helicos expects to raise $43.2 million after expenses and underwriting discounts and commissions. Underwriters may purchase up to an additional 810,000 shares to cover over-allotments.
