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Exact Sciences grosses $202.4mm through upsized notes offering
11 Jun 2018
Executive Summary
Exact Sciences Corp. (markets the Cologuard noninvasive stool DNA-based test for colorectal cancer) grossed $202.4mm through an upsized offering of $190mm aggregate principal amount of its 1% senior notes due 2025. The offering is fully fungible and will form a single series with the $690mm aggregate principal amount of notes that Exact issued in January; similar to that offering, the current notes convert to common at a rate of 13.2569 shares per $1k, or $75.43. (Exact's shares averaged $57.48 at the time of the sale.)
Deal Industry
- Biotechnology
- In Vitro Diagnostics
- Laboratory Testing Services
-
In Vitro Diagnostics
- Molecular Diagnostics & Genetic Testing
Deal Status
- Final
Deal Type
-
Financing
- Convertible Debt
- FOPO
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Exact Sciences grosses $202.4mm through upsized notes offering
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