U.S. biotechnology company NanoString Technologies has priced its offering of 4.5 million shares of common stock at $23 per share.

The total gross proceeds from the offering are expected to be $103.5 million.

The company will grant the underwriters a 30-day option to buy up to 675,000 additional shares.

NanoString plans to use the net proceeds from the offering for working capital and general corporate purposes.