Company sells 4,907,975 common shares at $8.15 apiece through offering
By Devika Patel
Knoxville, Tenn., April 23 – Veracyte, Inc. said it has arranged a $40 million private placement of stock. Piper Jaffray & Co. is the lead placement agent, and William Blair & Co., LLC is a co-agent.
The company will sell 4,907,975 common shares at $8.15 per share, which is identical to the April 22 closing share price.
Investors include Broadfin Capital, Camber Capital, Deerfield, Longwood Capital Partners and venBio.
Settlement is expected April 27.
Proceeds will be used for research and development, product commercialization, working capital and general corporate purposes.
Based in South San Francisco, Calif., the diagnostics company targets diseases that often require invasive procedures for an accurate diagnosis.
| Issuer: | Veracyte, Inc.
|
| Issue: | Common stock
|
| Amount: | $40 million
|
| Shares: | 4,907,975
|
| Price: | $8.15
|
| Warrants: | No
|
| Agents: | Piper Jaffray & Co. (lead) and William Blair & Co., LLC (co-agent)
|
| Investors: | Broadfin Capital, Camber Capital, Deerfield, Longwood Capital Partners and venBio
|
| Pricing date: | April 23
|
| Settlement date: | April 27
|
| Stock symbol: | Nasdaq: VCYT
|
| Stock price: | $8.15 at close April 22
|
| Market capitalization: | $205.89 million
|
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