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10X Genomics IPO: What You Need To Know

Tanzeel Akhtar

10x Genomics is a California-based single-cell sequencing firm that has priced a larger initial public offering than its initial filing suggested.

The IPO Terms

10x Genomics plans to sell up to 9 million shares of Class A common stock at a price between $31 and $35 per share, according to documents filed with the U.S. Securities and Exchange Commission.

The firm plans to trade on the Nasdaq under ticker symbol "TXG.”

10x Genomics also plans to grant the underwriters an option for a period of 30 days to purchase up to 1.35 million additional shares at the IPO price.

The firm said in an amended Form S-1 it expects to receive net proceeds of $271 million, assuming an IPO price of $33, the midpoint of the range, after deducting estimated underwriting discounts, commissions, and offering expenses, or approximately $312.4 million if the underwriters exercise their option in full.

The Company

10x Genomics markets the Chromium single-cell analysis system and assay kits, announced its plans for an IPO last month. Initially, its filing said it was looking to raise up to $100 million.

The Financials

As of June 30, the firm had approximately 8.1 million shares outstanding of its Class A common stock and 75.8 million shares of its Class B common stock.

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