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

by Vandana Singh, Benzinga Editor

February 5, 2021 5:54 AM | 1 min read | Make a Comment

Veracyte Inc 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.