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Invitae Files $250M Shelf Registration

NEW YORK (GenomeWeb) – Invitae has filed a shelf registration with the US Securities and Exchange Commission, under which it may offer up to $250 million of common and/or preferred stock, debt securities, depositary shares, or warrants.

The company also said that it signed a sales agreement with Cowen and Company allowing for the sale up to $75 million of its common stock.

The $75 million of common stock covered by the agreement with Cowen is included in the $250 million of securities that may sold by the company under the base prospectus. If any portion of the stock under the agreement with Cowen is not sold by the time the agreement terminates, then it may be offered for sale as part of the base prospectus or a supplement prospectus.

Invitae said that it intends to use proceeds from the offering for general corporate purposes.

Earlier this week, the genetic testing firm reported that its second quarter revenues more than doubled year over year on test volume growth and an improved reimbursement landscape.

In Friday morning trade on the New York Stock Exchange, shares of Invitae were down around 1 percent at $9.79.