NORTHBROOK, Ill., Oct. 21, 2009 (GLOBE NEWSWIRE) -- Nanosphere, Inc. (the "Company") (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, today announced the closing of its previously announced underwritten public offering of 5,405,000 shares of its common stock at a public offering price of $7.00 per share, including 705,000 shares of common stock issued pursuant to the underwriter's exercise in full of its over-allotment option. Piper Jaffray & Co. acted as the sole manager for the offering.
Net proceeds from the sale of the shares after underwriting discounts and commissions and other offering expenses are expected to be approximately $35.3 million.
The Company plans to use the net proceeds from the offering for general corporate purposes and working capital.
The offering was made pursuant to a prospectus supplement to the Company's prospectus, dated September 15, 2009, filed as part of the Company's effective $100 million shelf registration statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the final prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting Piper Jaffray & Co., by mail at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, or by telephone at (800) 747-3924.
About Nanosphere, Inc.
Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene(R) System, for direct genomic and ultra-sensitive protein detection. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL. Additional information is available at http://www.nanosphere.us.
The Nanosphere, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4344