Exact Sciences Corp. (NASDAQ:EXAS) shares are up more than 4% pre-bell despite news the company priced the sale of 10 million common shares at a slight discount to Thursday’s closing price. The company is offering the stock at $12.75 each, compared with Thursday’s close of $12.92. The net proceeds are expected to be $119.7 million. Underwriters have a 30-day option to purchase up to an aggregate of 1,500,000 additional shares of common stock.
Exact said it will use the funds to finance efforts to obtain FDA approval of its Cologuard test, to fund Cologuard commercialization activities and to fund product development efforts. The shares recently traded at $13.51 in a 52-week range of $6.93 – $15.60.
In Other News:
Micron Technology (NASDAQ:MU): Stock is up between 24.50 and 25.20 in pre-market trade. Thus far, the 24.50 to 24.75 area is setting up as a potential near-term floor support for longs to watch.
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