InVitae Corp (NYSE:NVTA) reported a $125-million common stock offering Wednesday.
The San Francisco-based NVTA announced the pricing of an underwritten public offering of 17,777,778 shares of its common stock at a price to the public of $9.00 per share. All of the shares are being sold by Invitae.
The gross proceeds to Invitae from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $160.0 million.
The offering is expected to close on or about Monday, April 6, subject to customary closing conditions. In addition, Invitae has granted the underwriters a 30-day option to purchase up to an additional 2,666,666 shares of its common stock at the public offering price, less underwriting discounts and commissions.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as the book-running managers for the offering.
The company is a leading medical genetics company, whose mission is to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.
“Invitae's goal,” says the news release, “is to aggregate the world's genetic tests into a single service with higher quality, faster turnaround time, and lower prices.”
NVTA shares prospered 30.8 cents, or 2.6%, to $12.02.
