Guardant Health (GH) Prices 11.5M Share Common Offering at $84/Sh

Guardant Health, Inc. (NASDAQ: GH) today announced the pricing of an underwritten public offering of 11,500,000 shares of its common stock at a public offering price of $84.00 per share, before deducting underwriting discounts and commissions (3,750,000 of which are being sold by Guardant Health and 7,750,000 are being sold by SoftBank Investment Advisers). The public offering was increased from the previously announced offering size of 10,000,000 shares of common stock. In addition, Guardant Health and SoftBank Investment Advisers have granted the underwriter a 30-day option to purchase up to 1,725,000 additional shares of common stock (562,500 additional shares from Guardant Health and 1,162,500 additional shares from SoftBank Investment Advisers) at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering to Guardant Health, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $315.0 million. Guardant Health will not receive any proceeds from the sale of its common stock by SoftBank Investment Advisers. The offering is expected to close on June 4, 2020, subject to the satisfaction of customary closing conditions.

Guardant Health intends to use the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by Guardant Health, primarily for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters and capital expenditures.

J.P. Morgan Securities LLC is acting as sole book-running manager of the offering.

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