Progenity (PROG) Prices 6.67M Share Common Stock Offering at $15/Each

(Updated - June 19, 2020 9:14 AM EDT)

Progenity, Inc. (NASDAQ: PROG), a biotechnology company with an established track record of success in developing and commercializing molecular testing products, today announced the pricing of its initial public offering of 6,666,667 shares of common stock at a public offering price of $15.00 per share. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Progenity, are expected to be $100 million. All of the shares are being offered by Progenity. The shares are expected to begin trading on The Nasdaq Global Market on June 19, 2020 under the ticker symbol “PROG.” In addition, Progenity has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on June 23, 2020 subject to the satisfaction of customary closing conditions.

Piper Sandler & Co. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated and Raymond James & Associates, Inc. are also acting as book-running managers for the offering. BTIG, LLC is acting as the lead manager for the offering.

You May Also Be Interested In