SAN FRANCISCO, Jan. 21, 2021 /PRNewswire/ -- Invitae
Corporation (NYSE: NVTA) today announced the pricing of an
underwritten public offering of 7,766,990 shares of its common
stock at a price to the public of $51.50 per share. All of the shares are being
sold by Invitae. The gross proceeds to Invitae from the offering,
before deducting the underwriting discounts and commissions and
other offering expenses, are expected to be approximately
$400.0 million. The offering is
expected to close on or about January 26,
2021, subject to customary closing conditions. In addition,
Invitae has granted the underwriters a 30-day option to purchase up
to an additional 1,165,048 shares of its common stock at the public
offering price, less underwriting discounts and commissions.
![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 the 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 offering. William Blair & Company,
L.L.C. is acting as co-manager for the 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 final 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, 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 and completion of the public
offering, the expected closing of the offering, the anticipated use
of the net proceeds from the offering 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