NeoGenomics to raise capital

FORT MYERS — Cancer-testing firm NeoGenomics says it plans to offer more stock to the public to fund its future growth.

The Fort Myers-based company has not yet specified how much stock it plans to sell or at what price. The company's shares are traded on the Nasdaq (symbol: NEO; recent price: $4.97).

“We intend to use the net proceeds for working capital, capital expenditures and other corporate purposes, including potential acquisitions,” NeoGenomics says in a prospectus filed with the Securities and Exchange Commission. “The company may also use proceeds to repay debt, although at this time no decision has been made to the amount or timing of repayment.”

In July, NeoGenomics acquired Path Labs for $6 million. The transaction included Path Logic's main laboratory in West Sacramento, Calif., as well as satellite facilities in Santa Ana and Fresno, Calif. Path Logic operates as a subsidiary of NeoGenomics to provide specialized anatomic pathology services for clinical trials and pathology clients.

William Blair & Company is the manager for the stock offering and Craig-Hallum Capital Group is co-lead manager for the offering. Stephens Inc., Roth Capital Partners, Sidoti & Company and Dawson James Securities are serving as co-managers for the offering. NeoGenomics intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the share amount sold to cover over-allotments, if any.