OraSure Technologies (OSUR) Announces Proposed 8M Share Common Offering

OraSure Technologies, Inc. (NASDAQ: OSUR) today announced it has commenced an underwritten public offering of 8,000,000 shares of its common stock. J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Evercore Group L.L.C. are acting as joint book running managers of the offering and as representatives of the underwriters. UBS Investment Bank and Raymond James & Associates, Inc. are acting as co-managers. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.

The Company intends to use the net proceeds from this offering to expand its manufacturing capacity for products both existing and in-development for use in testing for COVID-19, to fund potential acquisitions of new businesses, technologies or products, to fund the development, commercialization and manufacturing costs related to its products and for general corporate purposes.

The securities described above are being offered by OraSure pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (“SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

You May Also Be Interested In

• Elon Musk’s trillion-dollar meltdown: How SpaceX and Tesla erased $700 billion
• Datavault AI names Frank Deo CTO of its Acoustic Sciences Division
• Maison Solutions to form AI subsidiary with 90% ownership stake