NanoString nets $47M in public stock offering

NanoString Technologies said after the close of the market on Monday that it has closed its previously announced underwritten public offering of 4 million shares of common stock at a price of $12.50 per share. Net proceeds were approximately $46.8 million after deducting underwriting discounts, commissions, and the estimated expenses of the offering. JP Morgan and UBS Investment Bank acted as joint book-running managers and Baird acted as lead manager.
NanoString intends to use the money for the development and launch of its Digital Spatial Profiling platform, the continued commercialization of its portfolio of nCounter-based products, and for general corporate purposes and working capital.