Benzinga | Feb 4, 2021 06:13AM EST

Veracyte Seeks To Raise $400M To Fund Decipher Biosciences Deal

* Veracyte Inc (NASDAQ: VCYT) has commenced an underwritten public offering of $400 million in common stock. Underwriters have an option to purchase up to an additional $60 million shares.

* Veracyte will use proceeds to finance its Decipher Biosciences acquisition announced yesterday and working capital and other general corporate purposes.

* Goldman Sachs and SVB Leerink are acting as joint lead book-running managers for the offering.

* Price Action: VCYT closed 13.47% higher at $73.79 on Wednesday.