GenMark Diagnostics Commences Public Offering of Common Stock
June 12 2017 - 4:01PM
Business Wire
GenMark Diagnostics, Inc. (NASDAQ: GNMK), a leading provider of
automated, multiplex molecular diagnostic testing systems,
announced today that it has commenced an underwritten public
offering of $65,000,000 of shares of its common stock. All of the
shares in the offering are to be sold by GenMark.
J.P. Morgan and BofA Merrill Lynch are acting as joint
book-running managers for the offering. GenMark intends to grant
the underwriters a 30-day option to purchase up to $9,750,000 of
additional shares. The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
GenMark intends to use the net proceeds from this offering for
general corporate purposes and to fund its commercialization
efforts.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the “SEC”) and
became effective on July 18, 2016. A preliminary prospectus
supplement relating to the offering has been filed with the SEC.
Copies of the preliminary prospectus supplement and accompanying
prospectus may be obtained from the offices of J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204),
or by email at prospectus-eq_fi@jpmchase.com, or BofA Merrill
Lynch, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email
at dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
ABOUT GENMARK
GenMark Diagnostics (NASDAQ: GNMK) is a leading provider of
multiplex molecular diagnostic solutions designed to enhance
patient care, improve key quality metrics, and reduce the total
cost-of-care. Utilizing GenMark's proprietary eSensor® detection
technology, GenMark's eSensor XT- 8® and ePlex® systems are
designed to support a broad range of molecular diagnostic tests
with compact, easy-to-use workstations and self-contained,
disposable test cartridges. GenMark's ePlex®: The True
Sample-to-Answer Solution™ is designed to optimize laboratory
efficiency and address a broad range of infectious disease testing
needs, including respiratory, bloodstream, and gastrointestinal
infections. For more information, visit www.genmarkdx.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking information
about GenMark Diagnostics, Inc. that is intended to be covered by
the safe harbor for “forward-looking statements” provided by the
Private Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements are statements that are not historical
facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,”
“may,” “anticipate(s)” and similar expressions are intended to
identify forward-looking statements. These statements include, but
are not limited to, statements about the Company’s expectations
regarding its capital raising efforts, including the commencement
of the public offering, the underwriters’ exercise of their option
to purchase additional shares and the Company’s intended use of
proceeds. All such statements are subject to certain risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of the Company, which could cause actual results
to differ materially from those expressed in, or implied or
projected by, the forward-looking information and statements. These
risks and uncertainties include, but are not limited to, risks
related to: the Company’s history of operating losses, the
Company’s ability to successfully commercialize its products,
inherent risk and uncertainty in the protection of intellectual
property rights, ability to maintain gross margins, regulatory
uncertainties regarding approval or clearance for the Company’s
products, as well as other risks and uncertainties described under
the “Risk Factors” contained in the Company’s periodic and interim
SEC reports, including but not limited to, its Annual Report on
Form 10-K for the fiscal year ended December 31, 2016, its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2017,
and its Current Reports on Form 8-K filed from time to time with
the SEC. Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof,
and the Company does not undertake any obligation to revise and
disseminate forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence
of or non-occurrence of any events.
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version on businesswire.com: http://www.businesswire.com/news/home/20170612006193/en/
GenMark Diagnostics, Inc.Hany MassaranyPresident & Chief
Executive Officer760-448-4358
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