Deal's proceeds used for sales and marketing, research and development
By Devika Patel
Knoxville, Tenn., Oct. 30 - Veracyte, Inc. said it priced its $65 million initial public offering of stock with a $9.75 million greenshoe. The deal was announced Sept. 20.
The company will sell 5 million common shares at $13.00 apiece.
Morgan Stanley and Leerink Swann are the joint bookrunning managers.
Settlement is expected Nov. 4.
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."
Issuer: | Veracyte, Inc.
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Issue: | Common stock
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Amount: | $65 million
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Greenshoe: | $9.75 million
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Shares: | 5 million
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Price: | $13.00
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Warrants: | No
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Bookrunners: | Morgan Stanley and Leerink Swann
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Co-managers: | William Blair and Cowen and Co.
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Announcement date: | Sept. 20
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Stock exchange: | Nasdaq: VCYT
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