GenMark Diagnostics (GNMK) to Offer Common Stock

GenMark Diagnostics, Inc. (NASDAQ: GNMK) announced today that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are to be sold by GenMark. GenMark intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. 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.

Cowen and William Blair are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager for the offering.

GenMark intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, increasing manufacturing capacity and associated capital expenditures, to fund ongoing menu expansion and technology development, and pursue future market opportunities. GenMark may also use a portion of the net proceeds for increasing working capital and the repayment of its existing indebtedness under its loan and security agreement with Solar Capital Partners.

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