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Stock impact report

This Explains Why Invitae Is Sinking Today [The Motley Fool]

Invitae Corporation (NVTA) 
Last invitae corporation earnings: 2/19 04:05 pm Check Earnings Report
Company Research Source: The Motley Fool
Traders head for the exits after the genetic testing company announces a dilutive capital raise. Brian Feroldi ( TMFTypeoh ) Mar 27, 2018 at 11:56AM What happened In response to the  high-growth genetic testing company announcing plans for a secondary common stock offering, shares of Invitae   ( NYSE:NVTA )  fell 17% as of 10:40 a.m. EDT on Tuesday. So what Invitae plans to raise  $50 million  through a secondary common stock. As usual, the underwriters of the deal are also being granted an option to purchase up to an additional  $7.5 million worth  of stock at the offering price. When combined, this transaction could raise up to $57.5 million before subtracting fees.  For perspective, Invitae's market cap right now is about $320 million, so this deal could dilute current shareholders by up to 18%. The timing of this capital raise is a b Show less Read more
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