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Guardant Health Announces Pricing of Upsized Public Offering
REDWOOD CITY, Calif., June 01, 2020 (GLOBE NEWSWIRE) -- Guardant Health, Inc. (Nasdaq: GH) (“Guardant Health”), a leading precision oncology company focused
About this update from Guardant Health, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., June 01, 2020 (GLOBE NEWSWIRE) -- Guardant Health, Inc. (Nasdaq: GH) (“Guardant Health”), a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary blood tests, vast data sets and advanced analytics, today announced the pricing of an underwritten public offering of 11,500,000 shares of its common stock at a public offering price of $84.00 per share, before deducting underwriting discounts and commissions (3,750,000 of which are being sold by Guardant Health and 7,750,000 are being sold by SoftBank Investment Advisers). The public offering was increased from the previously announced offering size of 10,000,000 shares of common stock. In addition, Guardant Health and SoftBank Investment Advisers have granted the underwriter 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 Investment Advisers) at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering to Guardant Health, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $315.0 million. Guardant Health will not receive any proceeds from the sale of its common stock by SoftBank Investment Advisers. The offering is expected to close on June 4, 2020, subject to the satisfaction of customary closing conditions.\n Guardant Health intends to use the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by Guardant Health, primarily for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters and capital expenditures. J.P. Morgan Securities LLC is acting as sole book-running manager of the offering. The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was filed by Guardant Health with the U.S. Securities and Exchange Commission (the “SEC”) and automatically became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the pr...