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Biodesix Prices $55M Common Stock Offering, Private Placement

NEW YORK – Lung disease diagnostic company Biodesix announced on Friday that it has priced its underwritten offering of 17,391,832 shares of its common stock to the public at $1.15 per share. 

The firm has also entered into an agreement for a concurrent private placement of 760,857 shares of its Series A non-voting convertible preferred stock for $46.00 per share. Each share of Series A stock will convert to 40 shares of common stock upon stockholder approval for an aggregate 30,434,280 shares of common stock, Boulder, Colorado-based Biodesix said in a statement. 

Gross proceeds from the offering and the concurrent private placement are expected to be $55.0 million. The offering and private placement are expected to close on or about April 9, and the transactions are not contingent upon each other. 

TD Cowen, William Blair, and Canaccord Genuity are acting as joint bookrunning managers for the underwritten offering and placement agents for the concurrent private placement, Biodesix noted. Lake Street Capital Markets is acting as lead manager for the underwritten offering and placement agent for the concurrent private placement.