Shearman & Sterling advised Bank of America Merrill Lynch and the other underwriters in Exact Sciences Corporation’s additional issuance of $218.5 million, 1.0% convertible senior notes due 2025 (including $28.5 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. Shearman & Sterling also advised the underwriters in Exact Sciences Corporation’s initial offering of $690 million of its 1.0% convertible senior notes due 2025 in January 2018.
Bank of America Merrill Lynch acted as sole book-running manager for the offering. Robert W. Baird & Co. Incorporated, Cowen and Company, LLC, William Blair & Company, L.L.C., BTIG, LLC, Canaccord Genuity LLC and Leerink Partners LLC acted as co-managers for 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 Taylor Montgomery and David Lee (both New York–Corporate); Daniel Kachmar (New York–Tax), Daniel Yao (New York–Capital Markets) and Jake Glazeski (New York–Compensation, Governance & ERISA).