SAN DIEGO Sequenom Inc., a maker of biotechnology research equipment, said Tuesday a group of investors has agreed to buy stock and warrants of the company for $30 million, which Sequenom will use for working capital needs.
Sequenon said it received the investment commitments from ComVest Investment Partners II LLC, Pequot Private Equity Fund IV LP and L BI Group Inc., an affiliate of Lehman Brothers.
Under the deal, Sequenom said it will issue the investors about 54.5 million common shares and 32.7 million stock purchase warrants with an exercise price of 70 cents per share. Sequenom plans to close the deal May 31.
Separately, the company said it lost $26.4 million, or 66 cents per share, in 2005, compared with $34.6 million, or 87 cents per share, in 2004. Revenue fell to $19.4 million from $22.4 million.