Guardant Health Announces $90.7M Registered Direct Offering With Baillie Gifford Of 3,387,446 Shares Of Its Common Stock At An Offering Price Of $26.77 Per Share
Portfolio Pulse from Benzinga Newsdesk
Guardant Health, Inc. (NASDAQ:GH) has announced a registered direct offering of 3,387,446 shares at $26.77 per share to Baillie Gifford, totaling approximately $90.7 million. The proceeds will be used for general corporate purposes, including working capital, operating expenses, and capital expenditures. The offering is pursuant to an automatic shelf registration statement on Form S-3 filed with the SEC. Guardant Health and Baillie Gifford express mutual support and look forward to a long-term partnership.
December 21, 2023 | 2:07 pm
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Guardant Health is raising $90.7 million through a stock offering to Baillie Gifford, which will support general corporate activities and growth initiatives.
The direct offering is likely to have a positive short-term impact on GH's stock as it provides the company with additional capital for growth without incurring debt. The involvement of a reputable investor like Baillie Gifford could also be viewed positively by the market, signaling confidence in GH's future.
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