Myriad Genetics Announces Pricing of Upsized Offering of Common Stock
09 11월 2023 - 11:20AM
Myriad Genetics, Inc. (NASDAQ: MYGN) (the “Company” or “Myriad
Genetics”), a leader in genetic testing and precision medicine,
today announced the pricing of an upsized underwritten public
offering of 6,470,588 shares of its common stock, par value $0.01
per share (“common stock”), at a public offering price of $17.00
per share for expected gross proceeds of approximately $110
million, before deducting the underwriting discounts and
commissions and estimated offering expenses payable by the Company.
The Company has also granted the underwriters a 30-day option to
purchase up to an additional 970,588 shares of its common stock at
the public offering price, less underwriting discounts and
commissions. All of the shares in the offering are to be sold by
the Company. The offering is expected to close on November 13,
2023, subject to customary closing conditions.
The Company intends to use approximately $40.0
million of the net proceeds from the offering to repay all
outstanding loans under its asset-based revolving credit facility
(and accrued and unpaid interest thereon), without any reduction in
commitment, $57.5 million of the net proceeds from the offering to
pay the remaining portion of the settlement amount due under the
stipulation and agreement of settlement to resolve the class action
captioned In re Myriad Genetics, Inc. Securities Litigation, and
the remainder of the net proceeds for working capital and general
corporate purposes.
Goldman Sachs & Co. LLC, Morgan Stanley and
Wells Fargo Securities are acting as joint book-running managers
for the offering.
The offering is being made only by means of a
previously filed effective registration statement (including a base
prospectus) and a prospectus supplement. A preliminary prospectus
supplement relating to the offering has been filed with the U.S.
Securities and Exchange Commission (“SEC”). A final prospectus
supplement relating to the offering will be filed with the SEC.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may be obtained, when
available, at no charge from the SEC’s website at www.sec.gov or
from: Goldman Sachs & Co. LLC, Attention: Prospectus
Department, 200 West Street, New York, NY 10282, telephone:
1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com, Morgan Stanley, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, New
York 10014 or by emailing prospectus@morganstanley.com, and Wells
Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis,
MN 55402, telephone: 1-800-645-3751 (option #5) or by emailing
WFScustomerservice@wellsfargo.com. Before you invest, you should
read the prospectus supplement, the accompanying prospectus and
other documents the Company has filed with the SEC for more
complete information about the Company and the offering.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of these shares of common stock in any
state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such state or jurisdiction.
About Myriad Genetics
Myriad Genetics is a leading genetic testing and
precision medicine company dedicated to advancing health and
well-being for all. Myriad Genetics provides insights that help
people take control of their health and enable healthcare providers
to better detect, treat, and prevent disease. Myriad Genetics
develops and offers genetic tests that help assess the risk of
developing disease or disease progression and guide treatment
decisions across medical specialties where genetic insights can
significantly improve patient care and lower healthcare costs.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements
regarding the completion of the offering, the Company’s anticipated
use of the net proceeds from the offering and other statements
regarding the offering. These “forward-looking statements” are
management’s expectations of future events as of the date hereof
and are subject to known and unknown risks and uncertainties that
could cause actual results, conditions, and events to differ
materially and adversely from those anticipated. Such factors
include those risks described in the Company’s filings with the
SEC, including the Company’s Annual Report on Form 10-K for the
year ended December 31, 2022, filed on March 1, 2023, and the
Company’s Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2023, June 30, 2023 and September 30, 2023, filed on May
4, 2023, August 4, 2023 and November 7, 2023, respectively. The
Company is not under any obligation, and it expressly disclaims any
obligation, to update or alter any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Media Contact:Glenn Farrell(801)
584-1153Glenn.Farrell@myriad.com
Investor Contact:Matt Scalo(801)
584-3532matt.scalo@myriad.com
Myriad Genetics (NASDAQ:MYGN)
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