NanoString Technologies Prices IPO; VC firms Clarus, DFJ and OVP Poised for Payout

Venture-backed NanoString Technologies Inc. on Tuesday said that it is pricing its initial public offering of 5.4 million shares at $10 per share. It will trade on the Nasdaq under the symbol “NSTG.” The company, which makes life science tools for translational research and molecular diagnostic products, has raised a total of $82 million in venture capital since its founding in 2003. Most recently it completed a $15.3 million Series E in December. Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners as a group own 7.4 million pre-IPO shares, or 79% of the company, according to its S-1 filing. Clarus owns 3.37 million shares (36.01%), DFJ owns 1.85 million shares (19.95%), and OVP owns 2.15 million shares (23.07%), the filing shows. The bookrunning managers for the offering are J.P. Morgan and Morgan Stanley, and the co-managers are Leerink Swann and Robert W. Baird & Co.

PRESS RELEASE

June 25, 2013 07:04 PM Eastern Daylight Time
NanoString Technologies Prices Initial Public Offering

SEATTLE–(BUSINESS WIRE)–NanoString Technologies, Inc., a provider of life science tools for translational research and molecular diagnostic products, today announced the pricing of its initial public offering of 5.4 million shares of common stock at a price to the public of $10.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 810,000 shares to cover over-allotments, if any.

The bookrunning managers of the offering are J.P. Morgan and Morgan Stanley, and the co-managers are Leerink Swann and Robert W. Baird & Co. Incorporated. NanoString Technologies common stock will trade on The NASDAQ Global Market under the symbol “NSTG.”

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649, or email: prospectus@morganstanley.com.

A registration statement relating to this offering of common stock has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Contacts

For NanoString Technologies
Lynn Pieper of Westwicke Partners, 415-202-5678
lynn.pieper@westwicke.com

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