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CareDx Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
BRISBANE, Calif., Nov. 16, 2018 (GLOBE NEWSWIRE) -- CareDx, Inc. (Nasdaq: CDNA), a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic solutions for transplant patients, today announced the closing of its previously announced public offering of 2,300,000 of shares of common stock at a public offering price of $24.50 per share, which includes the exercise in full by the underwriters of their option to purchase up to 300,000 additional shares of common stock. The net proceeds to CareDx from the offering are expected to be approximately $52.8 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Jefferies and Piper Jaffray acted as joint book-running managers for the offering. Craig-Hallum acted as co-manager for the offering.
The securities described above were offered by CareDx pursuant to a shelf registration statement on Form S-3 (File No. 333-227168) previously filed with the Securities and Exchange Commission (the “SEC”) on August 31, 2018, as amended by Amendment No. 1 thereto previously filed with the SEC on October 10, 2018, and declared effective on October 11, 2018. A final prospectus supplement and accompanying prospectus related to the offering was filed with the SEC on November 14, 2018 and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by e-mail at firstname.lastname@example.org or by telephone at (877) 821-7388; or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by email at email@example.com, or by phone at (800) 747-3924.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
CareDx, Inc., headquartered in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic solutions for transplant recipients. CareDx offers products along the pre- and post-transplant testing continuum.
For more information, please visit: www.CareDx.com.
Forward Looking Statements
This press release includes forward-looking statements, including expectations regarding the amount of proceeds expected from the offering. These forward-looking statements are based upon information that is currently available to CareDx and its current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks associated with market conditions, as well as general economic and market factors, among others discussed in CareDx’s filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed by CareDx with the SEC on March 22, 2018 and the periodic reports that CareDx has subsequently filed with the SEC, and the prospectus supplement related to the offering filed with the SEC on November 14, 2018. Any of these may cause CareDx’s actual results, performance or achievements to differ materially and adversely from those anticipated or implied by CareDx’s forward-looking statements. CareDx expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.
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