CareDx Announces Closing of Public Offering of Common Stock
October 10 2017 - 4:00PM
CareDx, Inc. (Nasdaq:CDNA), a molecular diagnostics company
focused on the discovery, development and commercialization of
clinically differentiated, high-value diagnostic solutions for
transplant patients, today announced the closing of its previously
announced underwritten public offering of 4,992,840 shares of its
common stock, including 651,240 shares sold pursuant to the
underwriters’ full exercise of their option to purchase additional
shares to cover over-allotments, at a price to the public of $4.00
per share. The net proceeds to CareDx from this offering are
expected to be approximately $18.3 million, after deducting
underwriting discounts and commissions and other estimated offering
expenses.
“This was a very successful follow-on financing,” said Peter
Maag, Chief Executive Officer and President. “Following this
important financial milestone, CareDx remains focused on a
successful AlloSure launch, while driving our core products to
better serve both patients and the transplant community.”
Craig-Hallum Capital Group acted as sole book-running manager
for the offering. H.C. Wainwright & Co. acted as
co-manager for the offering.
The securities described above were offered by CareDx pursuant
to a registration statement on Form S-1 (File No. 333-220319)
previously filed with the Securities and Exchange Commission (the
“SEC”) and declared effective by the SEC on October 4, 2017, and a
registration statement on Form S-1 (File No. 333-22080) filed by
CareDx with the SEC on October 4, 2017, which became effective upon
filing in accordance with Rule 462(b) under the Securities Act of
1933, as amended. A final prospectus relating to and
describing the terms of the offering was filed with the SEC on
October 5, 2017 and is available on the SEC’s website at
www.sec.gov. Copies of the final prospectus may also be
obtained from Craig-Hallum Capital Group LLC, 222 South Ninth
Street, Suite 350, Minneapolis, Minnesota 55402, by telephone at
(612) 334-6300 or by email at prospectus@chlm.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, 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 CareDx CareDx,
Inc., headquartered in Brisbane, California, is a molecular
diagnostics company focused on the discovery, development and
commercialization of clinically differentiated, high-value
diagnostic solutions for transplant recipients. CareDx offers
products across the transplant testing continuum, including
AlloMap® and AlloSure™ for post-transplant surveillance and Olerup
SSP®, Olerup QTYPE®, and Olerup SBT™ for pre-transplant HLA
testing.
For more information, please visit: www.CareDx.com.
Forward Looking Statements This press release
includes forward-looking statements, including expectations
regarding the amount of net proceeds expected from the offering,
the AlloSure launch and CareDx’s ability to drive its core products
to better serve both patients and the transplant community. These
forward-looking statements are based upon information that is
currently available to CareDx and its current expectations, speak
only as of the date hereof, and are subject to numerous risks and
uncertainties, including general economic and market factors, among
others discussed in CareDx’s filings with the SEC, including
the Annual Report on Form 10-K for the fiscal year ended December
31, 2016 filed by CareDx with the SEC on April 21, 2017 and the
periodic reports that CareDx has subsequently filed with the SEC,
and the final prospectus related to the public offering filed with
the SEC on October 5, 2017. Any of these may cause CareDx’s actual
results, performance or achievements to differ materially and
adversely from those anticipated or implied by CareDx’s
forward-looking statements. CareDx expressly disclaims any
obligation, except as required by law, or undertaking to update or
revise any such forward-looking statements.
CONTACTS:
CareDx, Inc.Sasha KingChief Commercial
Officer415-287-2393sking@caredx.com
Investor RelationsDavid ClairIntegrated Corporate Relations,
Inc.646-277-1266david.clair@icrinc.com
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