NeoGenomics Prices Public Offering Of 7.0 Mln Shares At $4.60 Per Share

(RTTNews) - NeoGenomics Inc. (NEO), a provider of cancer-focused genetic testing services, announced that it has priced an underwritten public offering of 7.0 million shares of common stock at a price to the public of $4.60 per share. It will result in gross proceeds to the company of $32.2 million.

The transaction is expected to close on August 20, 2014.

The net proceeds to the Company, after deducting the underwriters' discounts and other estimated offering expenses, will be approximately $30.0 million.

The company noted that it plans to use the net proceeds for working capital, capital expenditures and for general corporate purposes, including potential acquisitions and the repayment of debt. NeoGenomics has granted the underwriters a 30-day option to purchase up to an additional 1.05 million shares of common stock to cover over-allotments, if any.

William Blair & Company, L.L.C. is the sole book-running manager and Craig-Hallum Capital Group LLC is co-lead manager for the offering. Stephens Inc., Roth Capital Partners, LLC, Sidoti & Company, LLC and Dawson James Securities, Inc. are serving as co-managers for the offering.