10x Genomics (TXG) priced 10M shares at $39.00. The deal size was increased from 9M shares and priced above the $36.00-$38.00 target range. JPMorgan, Goldman Sachs and BofA/Merrill are acting as joint book running managers for the offering.
10x Genomics' IPO price range was raised to $36.00-$38.00 from $31.00-$35.00 and is expected to price above the newly revised range. JPMorgan, Goldman Sachs and BofA/Merrill are acting as joint book running managers for the offering.
10x Genomics filed an S-1 with the SEC related to an initial public offering of shares of Class A common stock. The company has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol "TXG". 10x stated in the filing: "We are a life science technology company building products to interrogate, understand and master biology. Our integrated solutions include instruments, consumables and software for analyzing biological systems at a resolution and scale that matches the complexity of biology...The '10x' in our name refers to our focus on opportunities with the greatest potential for exponential advances and impact. We believe that the scientific and medical community currently understands only a tiny fraction of the full complexity of biology. The key to advancing human health lies in accelerating this understanding...Our revenue was $71.1M and $146.3M for 2017 and 2018, respectively, representing an annual growth rate of 106%, and $59.2M and $109.4M for the six months ended June 30, 2018 and 2019, respectively, representing an annual growth rate of 85%. We generated net losses of $18.8M and $112.5M for 2017 and 2018. Our 2018 net loss resulted substantially from charges of $62.4M associated with intellectual property acquisitions for research and development in addition to the litigation contingency accrual of $38.0M which was recorded in the fourth quarter of 2018. We generated net losses of $21.6M and $14.5M for the six months ended June 30, 2018 and 2019, respectively. The $14.5M net loss included a $15.9M accrual for estimated royalties related to ongoing litigation."