Cancer Genetics, which offers personalized genomic tests to improve the diagnosis and treatment of cancer, announced terms for its IPO on Monday. The Rutherford, NJ-based company plans to raise $18 million by offering 1.65 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Cancer Genetics would command a fully diluted market value of $56 million. The company had previously filed to offer 1.85 million shares at a range of $10 to $12 ($20 million). At the midpoint of the revised range, Cancer Genetics will raise -11% fewer proceeds than previously anticipated.
Cancer Genetics, which was founded in 1999 and booked $4 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol CGIX. Aegis Capital is the sole bookrunner on the deal.
