Pacific Biosciences of California, Inc. Announces Proposed Public Offering of Common Stock

MENLO PARK, California., January 24, 2023 /PRNewswire/ — Pacific Biosciences of CaliforniaInc. (Nasdaq: PACB) (“PacBio”) announced today that it intends to offer and sell $150.0 million of shares of its capital stock in a subscribed public offering. PacBio also intends to give subscribers a 30-day option to purchase up to an additional $22.5 million of shares of its capital stock, at the public offering price, less discounts and subscription commissions. The proposed offer is subject to market and other conditions and there can be no guarantee if or when the offer will be completed, or the actual size or terms of the offer.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Cowen and Company, LLC and Allen & Company LLC are serving as book execution joint managers for the offering.

PacBio intends to use the net proceeds from the offering for research and development, commercial infrastructure expansion and working capital and general corporate purposes. PacBio may also use a portion of the net proceeds from this offering to acquire or invest in complementary businesses, technologies, candidate products or other intellectual property, although it has no current commitments or agreements to do so.

The securities described above are offered pursuant to a shelf registration statement filed by PacBio with the Securities and Exchange Commission (“SEC”) which was automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website. The final terms of the offering will be disclosed in a supplement to the final prospectus to be filed with the SEC. When available, copies of the preliminary prospectus supplement, the final prospectus supplement and the accompanying prospectus may be obtained from:

Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, phone: (866) 471-2526, fax: 212-902-9316 or email [email protected]; Morgan Stanley & Co. LLC, Attn: Prospecting Department, 180 Varick Street, Second Floor, New York, New York 10014, phone: (866) 718-1649 or by email [email protected]; or Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, phone: (833) 297-2926 or by email [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction where such offer, solicitation or sale would be unlawful prior to registration. or rating under the securities laws of such state or other jurisdiction. Any offer, if any, will be made solely by means of the prospectus supplement and accompanying prospectus.

About PacBio

Pacific Biosciences CaliforniaInc. (NASDAQ: PACB) is a leading life sciences technology company that designs, develops and manufactures advanced sequencing solutions to help scientists and clinical researchers solve genetically complex problems.

forward-looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially, including, without limitation, whether or not PacBio will be able to raise capital through the sale of common shares or consummate the offer, the final terms of the offer, the satisfaction of customary closing conditions, prevailing market conditions, anticipated use of proceeds from the offering that could change as a result of market conditions or for other reasons, and the impact of general economic, industry or political conditions on the United States or internationally. Additional risks and uncertainties related to the offering, PacBio and its business can be found under the heading “Risk Factors” in PacBio’s most recent current, quarterly and annual reports filed with the SEC and in the preliminary prospectus supplement and the accompanying prospectus relating to the offer. to be filed with the SEC. PacBio does not undertake any duty or obligation to update or revise any forward-looking statement, except as required by law.

Investors: Todd Friedmann
[email protected]

SOURCE Pacific Biosciences of CaliforniaINC.