Myriad Genetics greenshoe exercised, raising follow-on offering to $148.9 million

New York, Nov. 8 - Myriad Genetics, Inc. said the underwriters of its follow-on offering of common stock exercised the 1.05 million share greenshoe in full, raising the size of the deal to 8.05 million shares, or $148.9 million.

The company originally sold seven million shares after the close on Nov. 3 at $18.50 per share. That was slightly discounted from the $18.95 close.

J.P. Morgan Securities Inc. was bookrunner with Bear Stearns & Co. Inc. and UBS Investment Bank as joint lead managers. Co-managers were Piper Jaffray & Co., First Albany Capital Inc. and JPM Securities LLC.

The Salt Lake City-based company that is developing gene-based drugs for cancer, Alzheimer's disease and infectious diseases such as AIDS, plans to use proceeds for preclinical studies and clinical trials, to further its predictive medicine product strategy, to develop or in-license new technologies, for working capital and for possible acquisitions.

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