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Immunicon
Corp. Announces Pricing of Initial Public Offering of 6 million
Shares
PRNewswire-FirstCall
April 15, 2004
HUNTINGDON VALLEY, Pa., - Immunicon Corporation (Nasdaq: IMMC) announced
today the pricing of its initial public offering of 6,000,000 shares
of its common stock at $8.00 per share. All of the shares being
offered are being offered by the Company. The Company has granted
the underwriters a 30-day option to purchase up to an additional
900,000 shares of common stock from the Company to cover over-allotments,
if any.
The net proceeds to the Company will be approximately $43 million
and will be used for product commercialization, including manufacturing,
research and development, capital expenditures, and working capital
and other general corporate purposes.
UBS Securities LLC is acting as sole book running manager for the
offering, and SG Cowen Securities Corporation, Legg Mason Wood Walker,
Incorporated and Adams, Harkness & Hill, Inc. are acting as
co-managers. A final prospectus relating to the offering may be
obtained, when available, from UBS Securities LLC, ECMG Syndicate
Department, 299 Park Avenue, New York, New York 10171, phone number:
212-713-2626.
About Immunicon Corporation
Immunicon Corporation is developing and commercializing proprietary
cell-based research and human diagnostic products with an initial
focus on cancer disease management. The Company has developed platform
technologies for selection and analysis of rare cells in blood,
such as tumor cells. Immunicon's products and underlying technology
platforms also have applications in the clinical development of
cancer drugs and in cancer research and may have applications in
other fields of medicine, such as cardiovascular and infectious
disease.
The registration statement relating to the common stock has been
declared effective by the Securities and Exchange Commission. This
press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of such common stock
in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state. The offering of these securities will be
made only by means of a prospectus, copies of which may be obtained
from UBS Securities LLC.
Contact: James G. Murphy, CFO, Immunicon at jmurphy@immunicon.com
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