SAN FRANCISCO, Jan. 20, 2021 /PRNewswire/ -- Invitae
Corporation (NYSE: NVTA) today announced that it has commenced an
underwritten public offering of $400.0 million of shares of its common
stock, before deducting underwriting discounts and commissions and
other offering expenses. All of the shares are being offered by
Invitae. In addition, Invitae expects to grant the underwriters a
30-day option to purchase up to an additional $60.0 million of shares of its common stock
at the public offering price, less underwriting discounts and
commissions. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
![Invitae's (NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. www.invitae.com (PRNewsFoto/Invitae Corporation) Invitae's (NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. www.invitae.com (PRNewsFoto/Invitae Corporation)](https://mma.prnewswire.com/media/268592/invitae_corporation_logo.jpg)
Invitae currently intends to use the net proceeds
from this offering for working capital and other general
corporate purposes, including investing in its platform,
oncology and reproductive product extensions and international
expansion. Invitae may also use a portion of the net proceeds
from this offering to acquire or invest in complementary
businesses, assets or technologies, although it has no present
commitments or agreements to do so.
J.P. Morgan Securities LLC, Morgan Stanley, Cowen and Company,
LLC and SVB Leerink LLC are acting as the book-running
managers for the proposed offering.
An automatic shelf registration statement relating to the shares
was filed with the Securities and Exchange Commission and became
effective on March 4, 2019. A copy of
the preliminary prospectus supplement and accompanying prospectus
relating to the offering, when available, may be obtained from J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, or by telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com; from Morgan Stanley & Co. LLC,
180 Varick Street, 2nd Floor, New York,
NY, 10014, Attention: Prospectus Department; from Cowen and
Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, Attn:
Prospectus Department, by email at
PostSaleManualRequests@broadridge.com, or by telephone at (833)
297-2926; or from SVB Leerink LLC, One Federal Street, 37th Floor,
Boston, MA 02110, Attention:
Syndicate Department, by telephone at (800) 808-7535, ext. 6132, or
by email at syndicate@svbleerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction 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 Invitae Corporation
Invitae Corporation (NYSE: NVTA) is a leading medical genetics
company whose mission is to bring comprehensive genetic information
into mainstream medicine to improve healthcare for billions of
people. Invitae's goal is to aggregate the world's genetic tests
into a single service with higher quality, faster turnaround time,
and lower prices.
Forward-Looking Statements
This press release contains forward-looking statements within
the Private Securities Litigation Reform Act of 1995, including
statements that relate to the timing, size and completion of the
proposed public offering, the grant to the underwriters of the
option to purchase additional shares, and other information
that is not historical information. Actual results or developments
may differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a
difference include risks and uncertainties related to completion of
the public offering on the anticipated terms or at all, market
conditions and the satisfaction of customary closing conditions
related to the public offering. More information about the risks
and uncertainties faced by Invitae is contained in the section
captioned "Risk factors" in the preliminary prospectus supplement
related to the public offering filed with the Securities and
Exchange Commission. Invitae disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact:
Laura D'Angelo
ir@invitae.com
(628) 213-3369
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SOURCE Invitae Corporation