Pacific Biosciences announces $150M common stock offering

Pacific Biosciences of California announced that it intends to offer and sell $150M of shares of its common stock in an underwritten public offering. PacBio intends to use the net proceeds from the offering for research and development, commercial infrastructure expansion and working capital and general corporate purposes. PacBio may also use a portion of the net proceeds from this offering to acquire or invest in complementary businesses, technologies, product candidates or other intellectual property, although it has no present commitments or agreements to do so. Goldman Sachs & Co., Morgan Stanley & Co., Cowen and Company, and Allen & Company are acting as joint book running managers for the offering.