Nanosys estimates IPO price

July 15, 2004 — Nanosys Inc., a Palo Alto, Calif.-based developer of inorganic semiconductor nanocrystals, has set a price estimate of $15 to $17 for its initial public offering.

The company will offer 6,250,000 shares out of a total of 21,870,313 shares expected to be outstanding after the offering, according to an SEC filing, for net proceeds between $93 million and $106 million. The company has not set a date for its IPO.

A $15 to $17 price per share would put the company’s market capitalization between $328 million and $372 million. The 43-person company raised about $55 million in venture backing since 2001, in addition to government grants and contracts.

Nanosys has applied to have its common stock quoted on the Nasdaq National Market under the symbol NNSY. Nanosys says it expects to use the proceeds for working capital, capital expenditures and potential acquisitions of complementary businesses, products and technologies, according to its SEC filing.

Underwriters include Merrill Lynch & Co., Lehman Brothers, CIBC World Markets and Needham & Company, Inc. The deal includes an overallotment option for the underwriters to purchase up to 937,500 additional shares.

– David Forman


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