PerSeptive Biosystems Inc. announced Thursday that it hasfiled a registration statement with the Securities and ExchangeCommission (SEC) for a public offering of 2 million shares of theCambridge, Mass. company's common stock. The offering'smanaging underwriters are Alex. Brown & Sons Inc. and Cowen& Co. If the underwriters decide to exercise their over-allotment option, a current shareholder of the company will sellup to an additional 300,000 shares of common stock.
This offering is PerSeptive's first follow-on to its initial publicoffering (IPO), which it completed in May of 1992. The IPOgrossed $17.5 million from the sale of 2.5 million shares at$7.00; in addition, on July 1, the underwriters exercised theiroverallotment of 375,000 shares at $7.00, which brought inanother $2,625,000, said Rob Fein, vice president and chieffinancial officer. At the end of 1992, PerSeptive had 9,088,000shares outstanding (about 10 million when fully diluted), andapproximately $15.4 million in cash and short-term and long-term investments, Fein told BioWorld.
The stock (PBIO) closed at $20.75 on Thursday, down $1.50 pershare.
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