Rosetta Genomics set to raise $28-32m on Nasdaq

The company value for its second IPO attempt is $84-96 million.

Drug discovery company Rosetta Genomics Ltd. is due to complete its IPO on Nasdaq, in its second attempt. The company plans to raise $28-32 million at a company value of $84-96 million. The price range for the offering is $7.50-8.50 per share. CE Unterberg Towbin and Oppenheimer & Co. are the underwriters.

Rosetta Genomics has developed proprietary computer algorithms for discovering micro-RNA sequences. The company has raised $30.5 million since it was founded, and it has $12.9 million in shareholders’ equity, amounting to 86% of its balance sheet total. The company’s largest shareholders include founder and chief architect Dr. Isaac Bentwich (29.4%), Kadima High-Tech (23.7%), Instanz Nominees Pty Ltd. (6.4%), GlenRock Israel subsidiary Insight Capital (5.1%).

Published by Globes [online], Israel business news - www.globes.co.il - on February 26, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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