Investors Should Revisit Exact Sciences Now
The stock of Exact Sciences (NASDAQ: EXAS) has tumbled in the past few days. However, there is more going on here than the general market sell-off on fears about the COVID-19 coronavirus outbreak.
With Monday's severe market drop in the background, Exact Sciences forged ahead with a plan to raise more capital by offering debt. An $850 million offering of senior convertible notes was quickly increased to $1 billion. Additionally, the underwriters have an option to purchase up to another $150 million in principal from Exact over the next 30 days.
Let's dig in further to see what this really means.
Source Fool.com
