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Exact Sciences grosses $202.4mm through upsized notes offering

Executive Summary

Exact Sciences Corp. (markets the Cologuard noninvasive stool DNA-based test for colorectal cancer) grossed $202.4mm through an upsized offering of $190mm aggregate principal amount of its 1% senior notes due 2025. The offering is fully fungible and will form a single series with the $690mm aggregate principal amount of notes that Exact issued in January; similar to that offering, the current notes convert to common at a rate of 13.2569 shares per $1k, or $75.43. (Exact's shares averaged $57.48 at the time of the sale.)
Deal Industry
  • Biotechnology
  • In Vitro Diagnostics
  • Laboratory Testing Services
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • FOPO

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