NEW YORK – Personalis on Thursday filed a $200 million mixed shelf securities offering with the US Securities and Exchange Commission, which covers the offering, issuance, and sale of an indeterminate number of shares of common stock and preferred stock, debt securities, and warrants to purchase common stock, preferred stock and/or debt securities.
Within that larger offering, the company designated an amendment to a previous at-the-market sales agreement with investment bank BTIG covering up to $50 million in common stock. Under that agreement, BTIG is not required to sell any specific number or dollar amount of securities, but will act as a sales agent, receiving a commission of up to 3 percent of the gross proceeds of any shares sold.
Personalis said that if the BTIG sales agreement were to terminate, unsold shares up to the full $50 million amount would revert back into the larger $200 million offering.
The firm, which recently announced layoffs of up to 65 employees, or about 20 percent of its workforce, intends to use any proceeds from the offering for general corporate purposes, with the potential for in-licensing and acquisitions.