Guardant Health Shares Move Lower On $350M Public Offering: The Details

Guardant Health Inc GH shares are trading lower Tuesday after the company announced an offering. 

What Happened: Guardant Health commenced an underwritten public offering of 12.5 million shares of its common stock at $28 per share. The company also granted the underwriters a 30-day option to purchase up to an additional 1.875 million shares. 

The offering is expected to close on or about May 25. Guardant Health anticipates $350 million in gross proceeds. 

Guardant Health is a precision oncology company focused on fighting cancer through proprietary tests, data sets and analytics. 

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GH Price Action: Guardant Health has a 52-week high of $62.55 and a 52-week low of $20.67. 

The stock was down 3.57% at $29.70 at the time of writing, per Benzinga Pro.

Photo: Tatiana from Pixabay.