InVitae (NVTA) Prices 7.77M Share Common Offering at $51.50/Sh

Invitae Corporation (NYSE: NVTA) today announced the pricing of an underwritten public offering of 7,766,990 shares of its common stock at a price to the public of $51.50 per share. All of the shares are being sold by Invitae. The gross proceeds to Invitae from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $400.0 million. The offering is expected to close on or about January 26, 2021, subject to customary closing conditions. In addition, Invitae has granted the underwriters a 30-day option to purchase up to an additional 1,165,048 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Invitae currently intends to use the net proceeds from the offering for working capital and other general corporate purposes, including investing in its platform, oncology and reproductive product extensions and international expansion. Invitae may also use a portion of the net proceeds from this offering to acquire or invest in complementary businesses, assets or technologies, although it has no present commitments or agreements to do so.

J.P. Morgan Securities LLC, Morgan Stanley, Cowen and Company, LLC and SVB Leerink LLC are acting as the book-running managers for the offering. William Blair & Company, L.L.C. is acting as co-manager for the offering.

An automatic shelf registration statement relating to the shares was filed with the Securities and Exchange Commission and became effective on March 4, 2019.

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