Veracyte Prices Common Stock Offering at $74 Per Share
03:26 AM EST, 02/05/2021 (MT Newswires) -- Veracyte (VCYT) on Thursday priced a public offering of 7,432,433 common shares at $74 per share for gross proceeds of about $550 million.
Underwriters have been granted a 30-day option to purchase up to an additional 1,114,864 common shares.
The offering, which is expected to close around Feb. 9, was increased from the initial plan of $400 million common shares.
Net proceeds from the offering will be used to finance the company's acquisition of Decipher Biosciences, with the remainder to be used for working capital and other general corporate purposes.
Price: 77.87, Change: +4.08, Percent Change: +5.53