US-based genetic test developer Invitae Corporation closed its initial public offering yesterday at $116.8m, after the offering’s underwriters fully exercised an option to acquire additional shares.
Invitae, a spin-off of diagnostic testing company Genomic Health, initially raised $101.6m when it went public last week, issuing 6.35 million shares priced at $16.00 each.
J.P. Morgan Securities, the sole book-running manager for the IPO, and co-managers Cowen and Company and Leerink Partners subsequently purchased an additional 952,000 shares.
Invitae’s shares have climbed steadily since it debuted on the New York Stock Exchange on Thursday. They currently stand at $21.80 at time of publication.