Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Invitrogen

This article was originally published in The Gray Sheet

Executive Summary

Research tool kit maker plans secondary offering of 5 mil. shares of common stock, including 1.5 mil. shares to be offered by the company and 3.5 mil. shares from selling shareholders. Net proceeds will be used for general corporate purposes. The offering is being managed by Donaldson, Lufkin & Jenrette, Hambrecht & Quist, U.S. Bancorp Piper Jaffray, and Dain Rauscher Wessels. Separately, the San Diego firm plans to lay off 14% of its U.S. workforce, or about 45 employees, to eliminate duplication resulting from its August 17 merger with pre-cast electrophoresis gel supplier Novex (1"The Gray Sheet" June 21, In Brief)

You may also be interested in...



Invitrogen

Research tool kit maker prices secondary offering of 5.9 mil. shares at $25 per share. Larger than an originally planned 5 mil. share offering (1"The Gray Sheet" Sept. 27, p. 18), the financing consists of 2.4 mil. shares to be offered by the company and 3.5 mil. shares by selling shareholders. Of the $140 mil. in anticipated net proceeds, those going to the company will be used for "general corporate purposes." The deal is being underwritten by Donaldson Lufkin & Jenrette and co-managed by Hambrecht & Quist, U.S. Bancorp Piper Jaffray, and Dain Rauscher Wessels. The underwriters have an overallotment option for 885,000 additional shares

Invitrogen

Research tool kit maker prices secondary offering of 5.9 mil. shares at $25 per share. Larger than an originally planned 5 mil. share offering (1"The Gray Sheet" Sept. 27, p. 18), the financing consists of 2.4 mil. shares to be offered by the company and 3.5 mil. shares by selling shareholders. Of the $140 mil. in anticipated net proceeds, those going to the company will be used for "general corporate purposes." The deal is being underwritten by Donaldson Lufkin & Jenrette and co-managed by Hambrecht & Quist, U.S. Bancorp Piper Jaffray, and Dain Rauscher Wessels. The underwriters have an overallotment option for 885,000 additional shares

Invitrogen/Novex

Definitive stock-swap merger agreement valued at over $50 mil. would combine San Diego-based Novex, a supplier of pre-cast electrophoresis gels and related instruments, with Invitrogen, maker of research tool kits for gene cloning and protein expression, also based in San Diego. Combined annual revenues would exceed $50 mil. Invitrogen revenues were $31.4 mil. in 1998; net income was $3 mil. Novex generated revenues of $23.1 mil. for the fiscal year ended March 31, and net income of $1.1 mil. Acquisition of Novex is part of Invitrogen's strategy "to expand our leadership in providing products that accelerate gene discovery and analysis," the firm says

UsernamePublicRestriction

Register

LL1135009

Ask The Analyst

Ask the Analyst is free for subscribers.  Submit your question and one of our analysts will be in touch.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel