MADISON, Wis.--(BUSINESS WIRE)--
Exact Sciences Corporation (NASDAQ: EXAS) today announced an agreement
to sell 7,000,000 shares of its common stock to Jefferies LLC, Robert W.
Baird & Co. Incorporated and Canaccord Genuity Inc. as underwriters in
an underwritten public offering pursuant to an effective shelf
registration statement filed with the Securities and Exchange Commission
(the "SEC") on Form S-3. The Company has also granted the underwriters
an option to purchase up to 1,050,000 additional shares.
The Company intends to use the net proceeds of this offering to fund
expansion of Cologuard® commercialization activities, to fund product
development efforts, and for general corporate and working capital
purposes.
Jefferies LLC, Robert W. Baird & Co. Incorporated and Canaccord Genuity
Inc. are acting as the underwriters for the offering. A shelf
registration statement relating to the shares was filed with the SEC and
is effective. A copy of the prospectus supplement and prospectus
relating to these securities may be obtained by contacting (a) Jefferies
LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, or by calling 877-821-7388, or by e-mailing Prospectus_Department@Jefferies.com,
(b) Robert W. Baird & Co. Incorporated, Syndicate Department, 777 E.
Wisconsin Avenue, Milwaukee, WI 53202, or by calling 800-792-2473, or by
e-mailing syndicate@rwbaird.com,
(c) Canaccord Genuity Inc., Syndicate Department, 99 High Street, 12th
Floor, Boston, MA 02110, or by calling 617-371-3900, or by e-mailing prospectus@canaccordgenuity.com,
or (d) the Internet site of the SEC at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of such state. The offering may be made only by means of the
prospectus and related prospectus supplement.
About Exact Sciences
Exact Sciences Corporation is a molecular diagnostics company focused on
the early detection and prevention of the deadliest forms of cancer. The
company has exclusive intellectual property protecting its noninvasive,
molecular screening technology for the detection of colorectal cancer.
Cologuard is included in the American Cancer Society’s (2014) colorectal
cancer screening guidelines and the recommendations of the U.S.
Preventive Services Task Force (2016). Stool DNA is included in the
combined screening guidelines of the American Cancer Society/U.S.
Multi-Society Task Force/American College of Radiology (2008) and the
American College of Gastroenterology guidelines (2009).
Certain statements made in this news release contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are based
on certain assumptions and describe the Company’s future plans,
strategies and expectations, can generally be identified by the use of
forward-looking terms such as “believe,” “expect,” “may,” “will,”
“should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate,”
or other comparable terms. Forward-looking statements in this news
release may address the following subjects among others: the terms and
size of the offering and the use of proceeds from the offering.
Forward-looking statements involve inherent risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements as a result of various factors including
those risks and uncertainties described in the Risk Factors and in
Management’s Discussion and Analysis of Financial Condition and Results
of Operations sections of the Company’s most recently filed Annual
Report on Form 10-K and the Company’s subsequently filed Quarterly
Reports on Form 10-Q. The Company urges you to consider those risks and
uncertainties in evaluating the Company’s forward-looking statements.
The Company cautions readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made. Except
as otherwise required by the federal securities laws, the Company
disclaims any obligation or undertaking to publicly release any updates
or revisions to any forward-looking statement contained herein (or
elsewhere) to reflect any change in the Company’s expectations with
regard thereto or any change in events, conditions or circumstances on
which any such statement is based.
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Source: Exact Sciences Corporation