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CareDx Prices $125M Public Stock Offering

NEW YORK — CareDx said on Wednesday that it has priced a planned $125 million public stock offering at $32 per share.

The Brisbane, California-based molecular diagnostics firm said it will offer 3,906,250 shares of its common stock through the transaction. It said it has also granted the underwriters of the offering a 30-day option to buy an additional 585,937 shares at the offering price, which would raise another $18.7 million.

The offering is expected to close on or around June 15. CareDx's stock closed at $33.51 on the Nasdaq Wednesday.

Goldman Sachs and Jefferies are acting as joint book-running managers for the offering. BTIG and Craig-Hallum Capital Group are acting as co-managers.

CareDx, which focuses on transplant medicine with products such as its AlloSure cell-free DNA test for organ transplant rejection, previously said it intends to use the proceeds from the offering for working capital and general corporate purposes.

In April, CareDx reported that it ended the first quarter with $32.2 million in cash and cash equivalents.

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