Veracyte announces pricing of public offering of 5,000,000 shares of common stock
Veracyte announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $10.25 per share. The gross proceeds to Veracyte from this offering, before deducting underwriting discounts and commissions and offering expenses payable by Veracyte, are expected to be $51.3 million. All of the shares are being offered by Veracyte. The offering is expected to close on or about July 30, 2018, subject to customary closing conditions.
In addition, Veracyte granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.
Veracyte intends to use the net proceeds from the offering for working capital and other general corporate purposes. Veracyte may also use a portion of the net proceeds from the offering to acquire or invest in complementary businesses, technologies or other assets, although it has no present commitments or agreements to do so.
Source: http://investor.veracyte.com/