This article was originally published in The Gray Sheet
Maker of microfluidic systems for detection and analysis of nucleic acids raises $34.5 mil. in its initial public offering, the company announces July 13 (1"The Gray Sheet" July 3, p. 11). With exercise of 750,000 over-allotment shares by underwriters UBS Warburg, Prudential Vector Healthcare and Invemed Associates, the IPO included a total of 5.75 mil. shares at $6 each. Proceeds will be used for R&D and expansion of manufacturing. Cepheid shares trade on the Nasdaq exchange under the symbol "CPHD"
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Initial public offering of 5 mil. shares at $6 each June 21 represents a reduction in the originally proposed price range of $10-12 per share (1"The Gray Sheet" May 1, p. 19). The Sunnyvale, California maker of microfluidic systems for detection and analysis of nucleic acids plans to use the proceeds from the $30 mil. offering for R&D, expansion of manufacturing and other general corporate purposes. Cepheid shares trade on the Nasdaq market under the symbol "CPHD." Underwriters UBS Warburg, Prudential Vector Healthcare and Invemed Associates hold an overallotment option for 750,000 additional shares
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