Veracyte to sell 4.7 million common shares in initial public offering

Deal's proceeds used for sales and marketing, research and development

By Devika Patel

Knoxville, Tenn., Oct. 17 - Veracyte, Inc. will sell 4.7 million common shares in its initial public offering with a greenshoe of 705,000 additional shares, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The deal was announced Sept. 20.

Morgan Stanley and Leerink Swann are the joint bookrunning managers. William Blair and Cowen and Co. are the co-managers.

Proceeds will be used for sales and marketing activities, research and development, working capital and other general corporate purposes.

Based in South San Francisco, Calif., the diagnostics company targets diseases that often require invasive procedures for an accurate diagnosis. It intends to list its common stock on the Nasdaq under the symbol "VCYT."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.