Invitae, which offers a broad suite of genetic tests as a single service at a low price, raised $102 million by offering 6.35 million shares at $16.
The company originally planned to offer 5.35 million shares at a range of $13 to $15. At the new terms, Invitae commands a fully diluted market value of $516 million, an 18% increase. Invitae plans to list on the NYSE under the symbol NVTA. J.P. Morgan acted as sole bookrunner on the deal.
Two other genetic testing companies had planned to go public this week, but AltheaDx (IDGX) officially postponed its $60 million deal on Wednesday and AutoGenomics (AGMX) is determining pricing on a day-to-day basis.
