Guardant Health Dips on Pricing of Equity Offering
Guardant Health (NASDAQ: GH) opened lower Wednesday after the company announced the pricing of shares being offered for public sale by SoftBank Investment Advisers, a unit of SoftBank Group.
The Japanese technology conglomerate is offering 7 million shares of Guardant Health in an underwritten public offering at $102, 7% below the price the stock closed at Tuesday, and has granted the underwriter a 30-day option to purchase an additional 700,000 shares at that price. The stock dipped to $101 in the morning, then recovered most of its losses. Shares were trading for around $107.80 as of 3 p.m. EDT, down by about 1.9% on the day.
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Source Fool.com
