Natera Launches Proposed Follow-On Offering

Rhea-AI Summary

Natera, Inc. (Nasdaq: NTRA) announced a proposed follow-on public offering of $250 million in common stock, with an additional $37.5 million in shares potentially available to underwriters. The offering is subject to market conditions and no assurance is given regarding its completion or terms. This follows the filing of an automatically effective shelf registration statement with the SEC. J.P. Morgan, Morgan Stanley, Cowen, and SVB Leerink will manage the offering, which aims to support Natera's mission in cell-free DNA testing.

Positive

• None.

Negative

• The offering may lead to shareholder dilution if additional shares are issued.
• The completion and terms of the offering are uncertain, creating risk for investors.

SAN CARLOS, Calif., Sept. 9, 2020 /PRNewswire/ -- Natera, Inc. (Nasdaq: NTRA), a global leader in cell-free DNA testing, today announced the launch of a proposed follow-on public offering of $250,000,000 of shares of its common stock. In addition, Natera expects to grant the underwriters a 30-day option to purchase up to an additional $37,500,000 of shares of its common stock from Natera at the public offering price less the underwriting discounts and commissions. 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 actual size or terms of the offering.

J.P. Morgan, Morgan Stanley, Cowen, and SVB Leerink are acting as joint book-running managers for the offering. Baird and Craig-Hallum Capital Group are acting as co-managers for the offering.

The securities described above are being offered pursuant to an automatically effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission on September 9, 2020.  The offering will be made only by means of an effective registration statement, including a preliminary prospectus and, when available, final prospectus, copies of which may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by telephone at (866) 803-9204 or by emailing prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525 ex. 6132 or by email at syndicate@svbleerink.com

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Natera
Natera is a pioneer and global leader in cell-free DNA testing. The mission of the company is to change the management of disease worldwide with a focus on women's health, oncology, and organ health. Natera operates an ISO 13485-certified and CAP-accredited laboratory certified under the Clinical Laboratory Improvement Amendments (CLIA) in San Carlos, California. It offers proprietary genetic testing services to inform obstetricians, transplant physicians, oncologists, and cancer researchers, including biopharmaceutical companies, and genetic laboratories through its cloud-based software platform.

Forward-looking Statements
Except for historical information, certain statements in this press release, including statements regarding the completion and the anticipated use of proceeds of the proposed follow-on public offering are forward-looking in nature and are subject to risks, uncertainties and assumptions about Natera and its business, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of the closing conditions related to the follow-on public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Any forward-looking statements are based on Natera's current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Natera makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Natera's business in general, please refer to the "Risk Factors" section in Natera's automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC") on September 9, 2020, including the documents incorporated by reference therein and its Quarterly Report on Form 10-Q filed with the SEC on August 7, 2020.

Natera Contacts
Investor Relations: Mike Brophy, CFO, Natera, Inc., 650-249-9090
Media: Paul Greenland, VP of Corporate Marketing, Natera, Inc., pr@natera.com  

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SOURCE Natera, Inc.

FAQ

What is Natera's proposed follow-on public offering amount?

Natera is proposing a follow-on public offering of $250 million.

Who are the joint book-running managers for Natera's offering?

J.P. Morgan, Morgan Stanley, Cowen, and SVB Leerink are acting as joint book-running managers.

What is the potential additional amount Natera may offer?

Natera may grant the underwriters an option to purchase an additional $37.5 million in common stock.

When was Natera's registration statement filed with the SEC?

The registration statement was filed with the SEC on September 9, 2020.

What are the risks associated with Natera's public offering?

The offering is subject to market conditions, and there is no guarantee regarding its completion or terms.