New York, Nov. 3 - Myriad Genetics, Inc. priced a $129.5 million follow-on offering of common stock at $18.50 per share, slightly discounted from the $18.95 close on Thursday.
The company sold seven million shares. There is a greenshoe for a further 1.05 million.
J.P. Morgan Securities Inc. was bookrunner with Bear Stearns & Co. Inc. and UBS Investment Bank as joint lead managers. Co-managers were Piper Jaffray & Co., First Albany Capital Inc. and JPM Securities LLC.
The Salt Lake City-based company that is developing gene-based drugs for cancer, Alzheimer's disease and infectious diseases such as AIDS, plans to use proceeds for preclinical studies and clinical trials, to further its predictive medicine product strategy, to develop or in-license new technologies, for working capital and for possible acquisitions.
| Issuer: | Myriad Genetics, Inc.
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| Issue: | Follow-on stock offering
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| Amount: | $129.5 million
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| Shares: | 7 million
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| Greenshoe: | 1.05 million
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| Price: | $18.50
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| Bookrunner: | J.P. Morgan Securities Inc.
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| Pricing date: | Nov. 3, after close
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| Stock price: | $18.95 at close Nov. 3
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| Symbol: | "MYGN"
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