Exact Sciences Corp. (NASDAQ: EXAS) today announced that it is offering
$125 million of shares of its common stock in a proposed underwritten
public offering. The offering is subject to market conditions and there
can be no assurance as to whether or when the offering may be completed,
or as to the actual size or terms of the offering. The shares will be
issued pursuant to a prospectus supplement to be filed as part of a
shelf registration statement filed with the Securities and Exchange
Commission (SEC) on Form S-3.
Jefferies LLC, Goldman, Sachs & Co. and Robert W. Baird & Co.
Incorporated are acting as joint book-running managers for the proposed
offering. William Blair & Company, L.L.C. and Canaccord Genuity Inc. are
acting as co-managers of the offering.
A shelf registration statement relating to the shares was filed with the
SEC and is effective. A preliminary prospectus supplement relating to
the offering will be filed with the SEC and will be available on the
SEC's website at www.sec.gov.
Copies of the preliminary prospectus supplement may also be obtained
from: Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison
Avenue, 12th Floor, New York, NY 10022, or by calling 877-547-6340, or
by e-mailing Prospectus_Department@Jefferies.com;
or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New
York, NY 10282, or by calling 866-471-2526, or by emailing firstname.lastname@example.org;
or Robert W. Baird & Co. Incorporated, Syndicate Department, 777 E.
Wisconsin Avenue, Milwaukee, WI 53202, or by calling 800-792-2413, or by
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other 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 other jurisdiction.
About Exact Sciences
Exact Sciences Corp. is a molecular diagnostics company focused on the
early detection and prevention of colorectal cancer. The company has
exclusive intellectual property protecting its non-invasive, molecular
screening technology for the detection of colorectal cancer. Stool-based
DNA technology is included in the colorectal cancer screening guidelines
of the American Cancer Society and the U.S. Multi-Society Task Force on
Certain statements made in this news release contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended, that are intended to be covered by the "safe harbor"
created by those sections. Forward-looking statements, which are based
on certain assumptions and describe our future plans, strategies and
expectations, can generally be identified by the use of forward-looking
terms such as "believe," "expect," "may," "will," "should," "could,"
"seek," "intend," "plan," "estimate," "anticipate," or other comparable
terms. Forward-looking statements in this news release may address the
following subjects among others: statements regarding the anticipated
closing of the offering, the sufficiency of our capital resources,
expected operating losses, expectations concerning our ability to secure
FDA approval of and reimbursement for our Cologuard test, our estimated
reimbursement amounts, our estimates of the available market size and
our potential penetration, expected license fee revenues, expected
research and development expenses, expected general and administrative
expenses and our expectations concerning our business strategy.
Forward-looking statements involve inherent risks and uncertainties
which could cause actual results to differ materially from those in the
forward-looking statements, as a result of various factors including
those risks and uncertainties described in the Risk Factors and in
Management's Discussion and Analysis of Financial Condition and Results
of Operations sections of our most recently filed Annual Report on Form
10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge
you to consider those risks and uncertainties in evaluating our
forward-looking statements. We caution readers not to place undue
reliance upon any such forward-looking statements, which speak only as
of the date made. Except as otherwise required by the federal securities
laws, we disclaim any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained herein
(or elsewhere) to reflect any change in our expectations with regard
thereto or any change in events, conditions or circumstances on which
any such statement is based.
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