Home / News

10x Genomics Files for $100M IPO

2019/8/28 13:46:22 Views£º603

10x Genomics is looking to raise up to $100 million in an initial public offering, according to documents filed Monday with the US Securities and Exchange Commission.

The single-cell sequencing firm did not disclose an expected share price range but said in a form S-1 that it plans to trade on the Nasdaq under ticker symbol "TXG."

According to the firm's preliminary prospectus, in fiscal year 2018 10x recognized $146.3 million in total revenues and had a net loss of $112.5 million. As of June 30, 2019, it had $56.0 million in cash and cash equivalents, as well as an installed instrument base of 1,285 with consumables pull-through per instrument of $81,000. Its net loss for the six months ended June 30 was $14.5 million.

JP Morgan, Goldman Sachs, and Bank of America will act as joint book-running managers. Cowen and Company will also serve as an underwriter.

10x markets the Chromium single-cell analysis system and kits for genomic and transcriptomic analysis, including immune profiling applications.

10x plans to use the net proceeds from the IPO for general corporate purposes and said it may use a portion to acquire businesses, products, or technologies.

The firm noted in its prospectus that it is party to a loan and security agreement with Silicon Valley Bank, under which $30.0 million of term loan borrowings were outstanding. The firm also has a $25.0 million revolving line of credit and up to $20.0 million of additional term loan borrowings, which are available to be drawn before Dec. 31, 2019. 10x said it intends to "partially draw" under the revolving line of credit, to provide additional liquidity. As of June 30, the outstanding principal of its term loan was $29.7 million.

CAIVD WeChat
Subscription Account
CAIVD WeChat
Channels

China Association of In-vitro Diagnostics

Part of the information in our website is from the internet.

If by any chance it violates your rights, please contact us.