Veracyte Inc VCYT:NASDAQ

Last Price$29.33Cboe Real-Time Last Sale as of 12:14PM ET 1/21/20
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Today's Change-0.82(2.72%)
Bid (Size)$29.32 (31)
Ask (Size)$29.34 (100)
Day Low / High$28.91 - 30.15
Volume158.3 K

Veracyte Seeks $136 Mln From Share Sale at 3.8% Discount for Potential Acquisitions, Debt Payment

8:46AM ET 5/03/2019 MT Newswires
Veracyte Inc. (VCYT) late Thursday said it plans to raise $127.9 million selling 5.5 million shares at $23.25 apiece, or 3.8% below Thursday's close.

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