Guardant Health Announces Pricing of Public Offering of Common Stock by Selling Stockholder

Rhea-AI Summary

Guardant Health has announced a public offering of 7,000,000 shares of its common stock priced at $102.00 per share, with the offering managed by J.P. Morgan Securities LLC. The shares are being sold by SoftBank Investment Advisers, and Guardant Health will not receive any proceeds from this sale. An additional option for underwriters to purchase up to 700,000 shares is also available. The offering is expected to close on October 9, 2020, pending customary closing conditions. This public offering is registered under Form S-3 with the SEC.

Positive

• SoftBank Investment Advisers' sale of shares could indicate confidence in Guardant Health's future.
• Potential for additional shares to be sold if underwriters exercise the option.

Negative

• Guardant Health will not benefit from the proceeds of the sale, potentially limiting its funding for growth.

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH) (“Guardant Health”), a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary blood tests, vast data sets and advanced analytics, announced today the pricing of an underwritten public offering of 7,000,000 shares of its common stock at a public offering price of $102.00 per share, before deducting underwriting discounts and commissions, all of which are being sold by SoftBank Investment Advisers. In addition, SoftBank Investment Advisers has granted the underwriter a 30-day option to purchase up to 700,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. Guardant Health is not selling any of its shares in the offering and will not receive any of the proceeds from the sale of shares in the offering by SoftBank Investment Advisers. The offering is expected to close on October 9, 2020, subject to the satisfaction of customary closing conditions.

J.P. Morgan Securities LLC is acting as sole book-running manager of the offering.

The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was filed by Guardant Health with the U.S. Securities and Exchange Commission (the “SEC”) and automatically became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus, when available, may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com.

This press release shall not constitute an offer to sell or a 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.

Source: Guardant Health, Inc.