Myriad Genetics Announces Proposed Offering of $100 Million

Myriad Genetics Seeks to Raise $100 Million in Upcoming Offering

Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced that it plans to make a public offering of $100.0 million of shares of its common stock, par value $0.01 per share (“common stock”), in an underwritten registered public offering. The Company also expects to grant the underwriters a 30-day option to purchase up to $15.0 million of additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the final size or terms of the offering. All of the shares in the proposed offering are to be sold by the Company.

The Company intends to use approximately $40.0 million of the net proceeds from the offering to repay all outstanding loans under its asset-based revolving credit facility (and accrued and unpaid interest thereon), without any reduction in commitment, $57.5 million of the net proceeds from the offering to pay the remaining portion of the settlement amount due under the stipulation and agreement of settlement to resolve the class action captioned In re Myriad Genetics, Inc. Securities Litigation, and the remainder of the net proceeds for working capital and general corporate purposes.

Goldman Sachs & Co. LLC, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers for the offering.

The offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained at no charge from the website of the U.S. Securities and Exchange Commission (“SEC”) at www.sec.gov or from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com, Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, New York 10014 or by emailing prospectus@morganstanley.com, and Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, telephone: 1-800-645-3751 (option #5) or by emailing WFScustomerservice@wellsfargo.com. Before you invest, you should read the preliminary prospectus supplement, the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the proposed offering.

Published on : 09th November, 2023