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Veracyte Prices $128M Public Stock Offering

NEW YORK (GenomeWeb) – Veracyte said it has priced its public offering of 5.5 million shares of its common stock at $23.25 per share. It expects gross proceeds of $127.9 million.

Veracyte said earlier this week that it plans to use the proceeds for working capital and other purposes, including to repay around $12.4 million of its term loan.

Morgan Stanley and SVB Leerink are lead book-running managers for the offering, while William Blair is a book-running manager and BTIG and Janney Montgomery Scott are co-managers.

Veracyte has granted the underwriters a 30-day option to purchase an additional 825,000 shares of the common stock at the public offering price. The offering is expected to close around May 7, 2019, the firm said.

Veracyte's stock was up just over 1 percent at $24.50 in Friday morning trading on the Nasdaq.