Madison-based Exact Sciences Corp. announced an agreement to sell 7 million shares of its common stock at a public offering price of $35 per share through the underwriters of Jefferies LLC, BofA Merrill Lynch, and Robert W. Baird & Co. Inc.
The company also is offering the underwriters the option to purchase up to 1,050,000 additional shares. The secondary stock sale could raise over $280 million.
Net proceeds will be used to expand commercialization activities for Cologuard, the company’s non-invasive test for colon cancer, and for general corporate and working capital purposes.
