NEW YORK (GenomeWeb) – Invitae announced after the close of the market on Tuesday that it will sell 9 million shares of its common stock at $19.00 per share.
The public offering, which Invitae announced on Monday, is expected to close on or around March 8 and bring in $171.0 million in gross proceeds, the firm said.
The company said it will also offer underwriters a 30-day option to buy an additional 1,350,000 shares of common stock at the public offering price, which is expected to generate an additional $25.7 million dollars in gross proceeds.
J.P. Morgan Securities, Cowen and Company, and SVB Leerink are managing the offering.
On Wednesday morning, Invitae’s shares were down 1 percent at $19.77 on the New York Stock Exchange.