Harvard Bioscience Announces Exercise of Overallotment
HOLLISTON, Mass., Jan. 9 /PRNewswire/ -- Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced that the underwriters of its initial public offering have exercised in full their overallotment option to purchase an additional 937,500 shares. Including the overallotment, the initial public offering totaled 7,187,500 shares sold by Harvard Bioscience and 172,450 shares sold by a shareholder. The shares were sold at $8.00 per share with net proceeds to Harvard Bioscience expected to be approximately $51.8 million after discounts and expenses.
Thomas Weisel Partners was lead manager with Dain Rauscher Wessels and ING Barings co-managing the offering.
Copies of the final prospectus related to the offering may be obtained from the Prospectus Department of Thomas Weisel Partners LLC, 1 Montgomery Street, San Francisco, CA 94104, telephone number 414-364-2500.
Harvard Bioscience is a global developer, manufacturer and marketer of innovative, enabling tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. Harvard Bioscience designs tools to accelerate the speed and reduce the cost at which its customers can discover and commercialize new drugs. By providing research tools, Harvard Bioscience participates in the revolutions in genomics and proteomics without bearing the risks inherent in attempting to discover new drugs. Harvard Bioscience offers approximately 10,000 products to customers around the world.
Pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995, Harvard Bioscience notes that statements contained in this news release that are not based on historical facts are forward looking statements and such statements are subject to risks and uncertainties that could cause actual results to differ from those projected or implied by such statements. These risks and uncertainties include risks of new technology to gain acceptance among Harvard Bioscience's customers and other risks and uncertainties detailed in the Company's recent Registration Statement on Form S-1 on file with the United States Securities and Exchange Commission. SOURCE Harvard Bioscience, Inc.
CONTACT: Jim Warren, Chief Financial Officer of Harvard Bioscience,
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