MENLO
PARK, Calif., Jan. 24,
2023 /PRNewswire/ -- Pacific Biosciences of
California, Inc. (Nasdaq: PACB)
("PacBio") today announced that it intends to offer and sell
$150.0 million of shares of its
common stock in an underwritten public offering. PacBio also
intends to grant the underwriters a 30-day option to purchase up to
an additional $22.5 million of shares
of its common stock, at the public offering price, less
underwriting discounts and commissions. The proposed offering is
subject to market and other 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.
Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Cowen
and Company, LLC and Allen & Company LLC are acting as Joint
Book Running managers for the offering.
PacBio intends to use the net proceeds from the offering for
research and development, commercial infrastructure expansion and
working capital and general corporate purposes. PacBio may also use
a portion of the net proceeds from this offering to acquire or
invest in complementary businesses, technologies, product
candidates or other intellectual property, although it has no
present commitments or agreements to do so.
The securities described above are being offered pursuant to a
shelf registration statement filed by PacBio with the Securities
and Exchange Commission ("SEC") that became automatically effective
upon filing. A preliminary prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and will be available on the SEC's website. The final terms
of the offering will be disclosed in a final prospectus supplement
to be filed with the SEC. When available, copies of the preliminary
prospectus supplement, the final prospectus supplement and the
accompanying prospectus may be obtained from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, New
York 10282, telephone: (866) 471-2526, facsimile:
212-902-9316 or by emailing prospectusny@ny.email.gs.com; Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New
York 10014, telephone: (866) 718-1649 or by emailing
prospectus@morganstanley.com; or Cowen and Company, LLC, 599
Lexington Avenue, New York, NY
10022, telephone: (833) 297-2926 or by emailing
Prospectus_ECM@cowen.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 registration or qualification under the securities laws of any
such state or other jurisdiction. Any offer, if at all, will be
made only by means of the prospectus supplement and accompanying
prospectus.
About PacBio
Pacific Biosciences of California, Inc. (NASDAQ: PACB) is a premier
life science technology company that is designing, developing, and
manufacturing advanced sequencing solutions to help scientists and
clinical researchers resolve genetically complex problems.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. These statements
involve risks and uncertainties that could cause actual results to
differ materially, including, but not limited to, whether or not
PacBio will be able to raise capital through the sale of
shares of common stock or consummate the offering, the final terms
of the offering, the satisfaction of customary closing conditions,
prevailing market conditions, the anticipated use of the proceeds
of the offering which could change as a result of market conditions
or for other reasons, and the impact of general economic, industry
or political conditions in the United
States or internationally. Additional risks and
uncertainties relating to the offering, PacBio and its
business can be found under the heading "Risk Factors" in
PacBio's most recent current, quarterly and annual reports
filed with the SEC and in the preliminary prospectus supplement and
accompanying prospectus relating to the offering to be filed with
the SEC. PacBio assumes no duty or obligation to update or revise
any forward-looking statements except as required by law.
Contact:
Investors: Todd
Friedman
650.521.8450
ir@pacb.com
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SOURCE Pacific Biosciences of California, Inc.