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Adaptive Biotechnologies' selling shareholders start common stock offering

Adaptive Biotechnologies Corp. said certain of its selling shareholders started a proposed underwritten public offering of 8 million common shares of the company.

The selling shareholders expect to grant the underwriters an option to buy up to an additional 1.2 million common shares of the biotechnology company.

Seattle-based Adaptive will not receive any of the proceeds from the sale of the shares.

J.P. Morgan, Goldman Sachs & Co. LLC and BofA Securities are the joint lead book-running managers, while Cowen, Guggenheim Securities and William Blair are the book-running managers for the offering. BTIG is the co-manager.