Invitrogen
This article was originally published in The Gray Sheet
Executive Summary
Research tool kit maker plans secondary offering of 5 mil. shares of common stock, including 1.5 mil. shares to be offered by the company and 3.5 mil. shares from selling shareholders. Net proceeds will be used for general corporate purposes. The offering is being managed by Donaldson, Lufkin & Jenrette, Hambrecht & Quist, U.S. Bancorp Piper Jaffray, and Dain Rauscher Wessels. Separately, the San Diego firm plans to lay off 14% of its U.S. workforce, or about 45 employees, to eliminate duplication resulting from its August 17 merger with pre-cast electrophoresis gel supplier Novex (1"The Gray Sheet" June 21, In Brief)