Northbrook’s Nanosphere expects to raise $23.4 million in public offering


Press release submitted by Nanosphere

NORTHBROOK, Ill., July 19, 2012 (GLOBE NEWSWIRE) — Nanosphere Inc. (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, today announced the pricing of its previously announced underwritten public offering of 10,500,000 shares of its common stock at a public offering price of $2.40 per share. In connection with the offering, the company has also granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of common stock to cover over-allotments, if any. Piper Jaffray & Co. is acting as the sole book-running manager and Roth Capital Partners is acting as co-manager for the offering.

Net proceeds from the sale of the shares after underwriting discounts and commissions and other offering expenses are expected to be approximately $23.4 million. If the underwriters exercise their over-allotment option in full, net proceeds from the offering will be approximately $26.9 million. The offering is subject to customary closing conditions and is expected to close on Tuesday, July 24, 2012.

The company plans to use the net proceeds from the offering for general corporate purposes and working capital.

The offering was made pursuant to a prospectus supplement to the company’s prospectus, dated Sept. 15, 2009, filed as part of the company’s effective $100 million shelf registration statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Copies of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or by email at

About Nanosphere Inc.

Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene System, for detection of life threatening infections and cardiovascular diseases. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, Ill. Additional information is available at