BOSTON (Thomson Financial) - Sequenom Inc. Friday said it has agreed to sell
3.4 million shares of its common stock at $9 a share through a private
placement.
The San Diego-based genetic analysis products provider said said the net
proceeds from the deal are expected to be about $28 million after transaction
costs.
Proceeds will be used to advance Sequenom's research, development and
commercialization of various diagnostic tests, as well as for general corporate
purposes, the company said.
Sequenom also reaffirmed its fiscal 2007 guidance for revenue growth of
about 37% to 44%, resulting in full-year revenue of $39 million to $41 million.
Shares closed Thursday at $9.98.
Greg Saulnier
gs/pc
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