Shares of BG Medicine (BGMD -18.7%) are down in early trading in response to its public offering of 6,452,000 common shares at $1.55/share. Net proceeds will be $8.9M.
Underwriters over-allotment is 967,800 shares.
Proceeds will be used to advance the commercialization of its cardiovascular diagnostic tests, CAPEX, IP licensing, debt repayment and working capital.
Closing date is April 8.