UPDATE: OraSure Technologies (OSUR) Prices 8M Share Common Offering at $11/Sh

OraSure Technologies, Inc. (NASDAQ: OSUR) today announced the pricing of an underwritten offering of 8,000,000 shares of its common stock at a price of $11.00 per share. After the underwriting discount and estimated offering expenses, OraSure expects to receive net proceeds of approximately $82.48 million. In addition, OraSure has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 of shares of its common stock. The offering is expected to close on June 5, 2020, subject to customary closing conditions. J.P. Morgan Securities LLC, Citigroup 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 of the offering.

The Company intends to use the net proceeds from this offering to expand its manufacturing capacity for both existing and in-development products 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.

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