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News Jan 17, 2018

Exact Sciences Corporation’s $690 Million Offering of Convertible Notes

Shearman & Sterling advised Bank of America Merrill Lynch and the other underwriters in Exact Sciences Corporation’s public offering of $690 million 1% convertible senior notes due 2025 (including $90 million of notes purchased by the underwriters pursuant to their fully exercised over-allotment option) with an initial conversion price of approximately $75.43 per share of common stock.

Bank of America Merrill Lynch acted as sole book-running manager for the offering. Cowen and Company, LLC, William Blair & Company, L.L.C., Canaccord Genuity Inc. and Leerink Partners LLC acted as co-managers in the offering. 

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some of the deadliest forms of cancer. 

The Shearman & Sterling team below was supported by associates Natalie Ko (both New York–Corporate), Daniel Kachmar (New York–Tax) and Jake Glazeski (New York–Compensation, Governance & ERISA).

The Team