Nichols Institute Raises $20 Million

Nichols Institute, a chain of medical laboratories, said Thursday that it has raised $20.2 million from a just-completed sale of common stock and from the exercise of stock warrants.

The San Juan Capistrano company sold 2,017,032 common shares, including 250,000 shares sold by underwriters. The public offering price was $16.625 a share, while a per-share price of $15.625 was paid by the offering’s two underwriters, Kidder, Peabody & Co. and William Blair & Co.