Exact Sciences Corp. (Nasdaq: EXAS) announced today that it has completed its previously announced underwritten public offering of 4.2 million shares of common stock at a price of $4.50 per share to the public.
The company received approximately $17.6 million of net proceeds from the offering, after deducting the underwriting discount and estimated expenses of the offering payable by the company. The company expects to use the net proceeds from the offering for general corporate and working capital purposes, including the funding of strategic initiatives that the company may undertake from time to time, for product development and the furtherance of the company's efforts to obtain FDA clearance of its sDNA colorectal cancer screening product. Robert W. Baird & Co. Incorporated acted as underwriter for the offering and XMS Capital Partners LLC acted as financial advisor for the company in connection with the offering.