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Guardant Health Prices $315M Public Offering

NEW YORK – Guardant Health said today that it has priced an underwritten public offering of 11.5 million shares of its common stock at a $84 per share.

The offering is expected to close on June 4.

Guardant is selling 3,750,000 of the shares and SoftBank Investment Advisers is selling the other 7,750,000 shares. The total, for which JP Morgan Securities is acting as sole book-running manager, was increased from a previously announced 10 million shares of common stock.

Guardant expects its gross proceeds to be $315 million from its portion of stock. The firm will not receive any proceeds from the sale of shares by SoftBank.

As part of the offering, underwriters also have a 30-day option to purchase up to 1,725,000 additional shares of common stock (562,500 additional shares from Guardant Health and 1,162,500 additional shares from SoftBank) at the public offering price, less underwriting discounts and commissions.

According to the company, net proceeds will go toward general corporate purposes, including working capital, sales and marketing activities, general and administrative matters and capital expenditures.