Guardant Health Announces Proposed Public Offering of Common Stock by Selling Stockholder
Guardant Health (Nasdaq: GH) has initiated a public offering of 7,000,000 shares of its common stock, which will be sold exclusively by SoftBank Investment Advisers. An additional 700,000 shares may be available through an underwriter's option. Guardant Health is not participating in the sale and will not receive any proceeds. The offering is under an automatic shelf registration statement with the SEC and is subject to market conditions. J.P. Morgan Securities LLC is the sole book-running manager for the offering.
- Proceeds from the offering will be directed to SoftBank Investment Advisers, potentially indicating their confidence in Guardant Health's growth.
- The automatic shelf registration simplifies the process for future capital raises.
- Guardant Health will not benefit financially from the sale of the shares, which does not support its immediate capital needs.
- The offering could lead to dilution of existing shareholders if the underwriter exercises the option for additional shares.
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 commencement of a proposed underwritten public offering of 7,000,000 shares of its common stock being offered for sale by SoftBank Investment Advisers. In addition, SoftBank Investment Advisers expects to grant 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 proposed 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 actual size or terms of the offering.
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 will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus 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.
