In a financing undertaking, Exact Sciences announced the pricing of an underwritten public offering of 5,500,000 shares of its common stock at a price to the public of $9.75 per share.
The net proceeds to Exact from this financing offering are expected to be approximately $50.2 million, after deducting underwriting discounts and commissions and other estimated offering expenses.
The financing offering is expected to close on or about August 13, 2012, subject to customary closing conditions.
Jefferies & Company, Inc. and Robert W. Baird & Co. Incorporated are acting as joint book-running managers in this financing offering.
Exact has granted the underwriters a 30-day option to purchase up to an aggregate of 825,000 additional shares of common stock.
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