Exact Sciences Corp. plans to sell 7 million common shares in an underwritten public offering.

The company has also granted underwriters an option to purchase up to 1,050,000 additional shares.

Exact Sciences plans to use the net proceeds to fund the expansion of Cologuard commercialization activities including to increase laboratory, manufacturing and customer service capacity, to fund product development efforts, and for general corporate and working capital purposes.

Jefferies LLC, BofA Merrill Lynch and Robert W. Baird & Co. Inc. are acting as underwriters for the offering.