SAN FRANCISCO--(BUSINESS WIRE)--
Invitae Corporation (NYSE:NVTA) today announced the pricing of an
underwritten public offering of 7,333,333 shares of its common stock at
a price to the public of $6.00 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 $44 million. The offering is
expected to close on or about November 22, 2016, subject to customary
closing conditions. In addition, Invitae has granted the underwriters a
30-day option to purchase up to an additional 1,099,999 shares of its
common stock at the public offering price, less the underwriting
discounts and commissions.
J.P. Morgan Securities LLC is acting as the sole book-running manager
for the offering. Cowen and Company, LLC is acting as a co-manager for
the offering.
A shelf registration statement relating to the shares was filed with the
Securities and Exchange Commission and became effective on June 20,
2016. The offering is being made solely by means of a prospectus. A copy
of the final prospectus supplement and accompanying prospectus relating
to the offering, when available, may be obtained from J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or
by email at prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Invitae Corporation
Invitae Corporation's (NYSE: NVTA) mission is to bring comprehensive
genetic information into mainstream medical practice to improve the
quality of healthcare for billions of people. Invitae’s goal is to
aggregate most of the world’s genetic tests into a single service with
higher quality, faster turnaround time, and lower price than many
single-gene and panel tests today. The company currently provides a
diagnostic service comprising hundreds of genes for a variety of genetic
disorders associated with oncology, cardiology, neurology, pediatrics,
and other rare disease areas.
Forward-Looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to Invitae’s expectations
regarding the anticipated closing date. Actual results or developments
may differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a difference
include risks and uncertainties related to completion of the public
offering on the anticipated terms or at all, market conditions and the
satisfaction of customary closing conditions related to the public
offering. More information about the risks and uncertainties faced by
Invitae is contained in the section captioned “Risk factors” in the
preliminary prospectus supplement related to the public offering filed
with the Securities and Exchange Commission. Invitae disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Source: Invitae Corporation
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Source: Invitae Corporation