DermTech (DMTK) Prices 4.237M Share Common Offering at $29.50/Sh

DermTech, Inc. (NASDAQ: DMTK) announced today the pricing of its previously announced underwritten public offering of 4,237,288 shares of its common stock at a price to the public of $29.50 per share. DermTech’s gross proceeds from the offering are expected to be approximately $125 million, before deducting underwriting discounts and commissions and offering expenses. In addition, DermTech has granted the underwriters a 30-day option to purchase up to 635,593 additional shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are being sold by DermTech. DermTech currently intends to use the net proceeds from the offering to fund further commercialization of its clinical commercial tests, accelerate pipeline development and for general corporate purposes, including working capital and other general and administrative purposes.

Cowen and William Blair are acting as joint book-running managers for the offering. BTIG, Craig-Hallum and Oppenheimer & Co. are acting as lead managers for the offering, and Lake Street Capital Markets is acting as co-manager for the offering. The offering is expected to close on January 11, 2021, subject to the satisfaction of customary closing conditions.

The offering is being made only by means of a written prospectus and related prospectus supplement forming part of DermTech’s shelf registration statement on Form S-3 (File No. 333-248642) that was filed with the Securities and Exchange Commission (the “SEC”) on September 8, 2020 and declared effective by the SEC on September 17, 2020.

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