Exact Sciences said Friday that it plans to raise up to $190 million through the sale of notes that can be converted into cash or shares of the company’s stock, starting in 2025.
Madison, WI-based Exact (NASDAQ: EXAS) is developing several screening tests for cancer patients. Its flagship product is Cologuard, a non-invasive, stool-based DNA test for colorectal cancer.
The conversion price of $75.43 a share represents a premium of nearly 20 percent more than Exact’s closing share price of $63.20 Thursday. Exact said it will pay interest to investors who hold the notes at a rate of 1 percent… Read more »
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