BIOSITE TO EXPAND TRIAGE SALES AND MARKETING ACTIVITIES, INCLUDING IN-HOUSE CAPABILITIES, WITH IPO PROCEEDS; EXPECTS TO RAISE $22-26 MIL. FROM OFFERING
This article was originally published in The Gray Sheet
Executive Summary
Biosite Diagnostics plans to use $7 mil. of proceeds from its initial public offering to expand its sales and marketing activities, including "the development of direct sales capabilities in select markets," the firm says in a Dec. 11 registration statement. The Securities and Exchange Commission filing covers a proposed IPO of 2 mil. shares that would raise $21.6 mil. in net proceeds at $12 a share.