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Veracyte Raises $550M In Upsized Equity Offering For Decipher Biosciences Acquisition

· 02/05/2021 05:54
  • Veracyte Inc (NASDAQ: VCYT) has priced an upsized underwritten public offering of around 7.4 million common shares at $74 per share, with gross proceeds of approximately $550 million. Earlier, the company announced the equity offering of $400 million.
  • The offer price represents a discount of around 5% from the last close price of $77.87 on Thursday.
  • Underwriters have an option to purchase up to an additional 1.1 million.
  • The offering is expected to close by February 9.
  • Goldman Sachs and SVB Leerink are acting as joint lead book-running managers for the offering.
  • The majority of the proceeds from the offering will be used to finance Decipher Biosciences acquisition.
  • Price Action: VCYT shares closed 5.5% higher at $77.87 on Thursday.