On January 24, 2023, life sciences technology company Pacific Biosciences of California Inc announced that it has priced a 17.5 million share secondary stock offering at $10 per share. The transaction will raise $175 million, which was upsized from the original size of $150 million. Wilson Sonsini Goodrich & Rosati advised Pacific Biosciences on the transaction.

Pacific Biosciences plans to use the proceeds from the offering for research and development and other corporate purposes that could include commercial infrastructure expansion, working capital and acquisitions. The company designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. The deal includes an overallotment of 2,625,000 shares that will be available to underwriters.

The Wilson Sonsini team that advised Pacific Biosciences includes:

Corporate
Andy Hoffman
Zach Myers
James Babikian
Daniel Canavan
James Keegan
Karl Kobylecki 

Specialists
Tarek Helou
Matthew Staples
Eva Yin
Anne Seymour
Scott McCall
Jaqueline Tokuda

For more information, please see Pacific Biosciences of California’s press release.