8-KMaterial AgreementsOther EventsExhibits & Filings

Guardant Health, Inc. 8-K Report, Material Agreement (Dec 21, 2023)

Filed December 21, 2023For Securities:GH

Summary

Guardant Health, Inc. (GH) announced on December 21, 2023, the successful completion of a registered direct offering, raising approximately $90.7 million in gross proceeds. The company sold 3,387,446 shares of common stock to certain institutional investors at an offering price of $26.77 per share. This offering was conducted under the company's existing shelf registration statement, ensuring an efficient capital raise. The net proceeds, estimated at $90.6 million after expenses, are earmarked for general corporate purposes. This includes crucial areas such as working capital, operating expenses, and capital expenditures, which will support the company's ongoing operations and strategic initiatives. The offering's closing occurred on December 21, 2023, following the execution of a common stock purchase agreement on December 20, 2023.

Key Highlights

  • 1Guardant Health successfully raised approximately $90.7 million in gross proceeds through a registered direct offering.
  • 2The offering involved the sale of 3,387,446 shares of common stock at $26.77 per share to institutional investors.
  • 3Net proceeds are estimated to be around $90.6 million after deducting offering expenses.
  • 4Funds raised will be primarily used for general corporate purposes, including working capital, operating expenses, and capital expenditures.
  • 5The offering was executed under the company's effective Form S-3 shelf registration statement.
  • 6The closing of the share sale occurred on December 21, 2023.
  • 7The transaction involved a common stock purchase agreement entered into on December 20, 2023.

Frequently Asked Questions

The net proceeds from the offering are intended for general corporate purposes, which include strengthening working capital, funding operating expenses, and supporting capital expenditures necessary for Guardant Health's business operations and growth.

The offering was made to certain institutional investors. The filing specifically mentions Baillie Gifford Overseas Limited acting as an agent and representative for these investors in the purchase agreement.

Guardant Health raised approximately $90.7 million in gross proceeds by selling 3,387,446 shares of common stock at an offering price of $26.77 per share.

The offering was conducted pursuant to Guardant Health's existing shelf registration statement on Form S-3, which was filed on May 22, 2023, and became effective immediately upon filing.