Shares of the medical diagnostic products developer retreated 1.5% to $23.80 in pre-market trading Friday.
The offering is expected to close by May 7, with underwriters receiving a 30-day option to purchase up to an additional 825,000 shares, or $19.2 million.
Proceeds from the share sale will help repay some $12.4 million of the company's term loan as well as fund working capital.
"Veracyte may also use a portion of the net proceeds from the offering to acquire or invest in complementary businesses, technologies or other assets, although it has no present commitments or agreements to do so," the company said Friday.
Price: 23.70, Change: -0.47, Percent Change: -1.94
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