June 22, 2020 / 11:29 AM / 23 days ago

BRIEF-Invitae And Archerdx To Create A Global Leader In Comprehensive Cancer Genetics And Precision Oncology

Invitae Corp:

* INVITAE AND ARCHERDX TO CREATE A GLOBAL LEADER IN COMPREHENSIVE CANCER GENETICS AND PRECISION ONCOLOGY

* INVITAE CORP - WILL ACQUIRE ARCHERDX FOR UPFRONT CONSIDERATION CONSISTING OF 30 MILLION SHARES OF INVITAE COMMON STOCK AND $325 MILLION IN CASH

* INVITAE CORP - OVERALL TRANSACTION VALUED AT APPROXIMATELY $1.4 BILLION

* INVITAE CORP - ENTERED INTO A DEFINITIVE AGREEMENT TO SELL $275 MILLION IN COMMON STOCK IN A PRIVATE PLACEMENT AT A PRICE OF $16.85 PER SHARE

* INVITAE CORP - ALSO ENTERED INTO A FULLY COMMITTED CREDIT FACILITY FOR UP TO $200 MILLION WITH PERCEPTIVE CREDIT OPPORTUNITIES FUNDS

* INVITAE CORP - EXPECTS CASH AT TRANSACTION CLOSE WOULD BE ABOUT $425 MILLION

* INVITAE CORP - AT DEAL CLOSE, ANNUALIZED NEAR-TERM FORWARD CASH BURN IS EXPECTED TO BE ABOUT $130 MILLION

* INVITAE-STRATEGIC FINANCING WITH OVER $400 MILLION IN FINANCING COMMITMENTS FROM PREMIER SYNDICATE OF LIFE SCIENCES INVESTORS,LED BY PERCEPTIVE ADVISORS

* INVITAE - UNDER DEAL, ADDITIONAL 27 MILLION SHARES OF INVITAE COMMON STOCK PAYABLE IN CONNECTION WITH ACHIEVEMENT OF SOME MILESTONES TO ARCHERDX Source text for Eikon: Further company coverage:

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