Fulgent Genetics (NASDAQ: FLGT) announced the pricing of its previously announced underwritten public offering of 2,325,000 shares of its common stock at a public offering price of $11.25 per share, resulting in gross proceeds of approximately $26.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.
The offering is expected to close on November 18, 2019, subject to the satisfaction of customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 348,750 additional shares of common stock. The Company currently intends to use the net proceeds from this offering for working capital and general corporate purposes.
Piper Jaffray & Co. is acting as the sole book-running manager for the offering and BTIG, LLC is acting as lead manager.