Fulgent Genetics shares up 13% in trading debut
Shares of Fulgent Genetics Inc. jumped 13% in their market debut Thursday, after pricing at the low end of the $9 to $11 range for the company's initial public offering. The company sold 4.2 million shares to raise $37.8 million. Shares are trading on Nasdaq, under the ticker symbol 'FLGT'. Credit Suisse and Piper Jaffray were lead underwriters on the deal. The underwriters have a 30-day option to purchase up to 630,000 additional shares at the IPO price and the company's chief executive has indicated interest in buying up to 1.05 million shares at that price.
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