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Myriad Genetics (MYGN) Prices Upsized 6.47M Share Offering at $17/sh

November 9, 2023 5:43 AM EST

Myriad Genetics, Inc. (NASDAQ: MYGN) (the “Company” or “Myriad Genetics”), a leader in genetic testing and precision medicine, today announced the pricing of an upsized underwritten public offering of 6,470,588 shares of its common stock, par value $0.01 per share (“common stock”), at a public offering price of $17.00 per share for expected gross proceeds of approximately $110 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company has also granted the underwriters a 30-day option to purchase up to an additional 970,588 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are to be sold by the Company. The offering is expected to close on November 13, 2023, subject to customary closing conditions.

The Company intends to use approximately $40.0 million of the net proceeds from the offering to repay all outstanding loans under its asset-based revolving credit facility (and accrued and unpaid interest thereon), without any reduction in commitment, $57.5 million of the net proceeds from the offering to pay the remaining portion of the settlement amount due under the stipulation and agreement of settlement to resolve the class action captioned In re Myriad Genetics, Inc. Securities Litigation, and the remainder of the net proceeds for working capital and general corporate purposes.

Goldman Sachs & Co. LLC, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers for the offering.

The offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a prospectus supplement. A preliminary prospectus supplement relating to the offering has been filed with the U.S. Securities and Exchange Commission (“SEC”). A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, at no charge from the SEC’s website at www.sec.gov or from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected], Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by emailing [email protected], and Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, telephone: 1-800-645-3751 (option #5) or by emailing [email protected]. Before you invest, you should read the prospectus supplement, the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these shares of common stock in any state 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.



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