Veracyte, Inc. closed its public offering of common stock with about $55.1 million in net proceeds.
The South San Francisco, Calif.-based molecular diagnostics company offered 5,750,000 shares at $10.25 apiece, which included 750,000 shares bought by the underwriters after they fully exercised their option to buy additional shares.
Veracyte intends to use the net proceeds for working capital and other general corporate purposes. The company may also use the funds for potential acquisitions.
Leerink Partners and William Blair acted as joint book-running managers, while BTIG served as lead manager for the offering.