AutoGenomics, which sells a molecular diagnostics system for genetic testing in clinical laboratories, announced terms for its IPO on Monday. The Vista, CA-based company plans to raise $45 million by offering 3.8 million shares at a price range of $11 to $13. At the midpoint of the proposed range, AutoGenomics would command a fully diluted market value of $126 million.
AutoGenomics last tried to go public in February 2013, when it set terms to raise $60 million at a $188 million market value, before postponing and eventually withdrawing that year in November. AutoGenomics first filed for an $86 million IPO in 2008, but withdrew in 2011.
Another genetic testing company, Invitae (NVTA), set terms Monday morning to raise $75 million during the same week.
AutoGenomics, which was founded in 1999 and booked $24 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol AGMX. Stifel, Canaccord Genuity and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price during the week of February 9, 2015.
