Exact Sciences Corporation’s $218.5 Million Offering of Convertible Notes

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.

Shearman & Sterling advised with a team including Ilir Mujalovic (Picture), Kyungwon (Won) Lee, Harald Halbhuber, Erika Khalek, Natalie Ko, Russell Sacks, Kristen Garry, Doreen Lilienfeld, Nathan Greene, Jay G. Baris, Jeffrey J. Resetarits, Paul Schreiber, Jennifer D. Morton, George Spera, Jenny Ding Jordan, P. Sean Kelly, Marc Elzweig and Benjamin Petersen

Involved fees earner: Ilir Mujalovic – Shearman & Sterling; Kyungwon Lee – Shearman & Sterling; Harald Halbhuber – Shearman & Sterling; Erika Khalek – Shearman & Sterling; Natalie Ko – Shearman & Sterling; Russell Sacks – Shearman & Sterling; Jennifer Morton – Shearman & Sterling; Jenny Ding Jordan – Shearman & Sterling; Sean Kelly – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; George Spera – Shearman & Sterling; Nathan Greene – Shearman & Sterling; Jay Baris – Shearman & Sterling; Paul Schreiber – Shearman & Sterling; Jeffrey Resetarits – Shearman & Sterling; Marc Elzweig – Shearman & Sterling; Benjamin Petersen – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Bank of America Merrill Lynch; Canaccord Genuity; Robert W. Baird & Co.; Cowen and Company; William Blair & Company, L.L.C.; Leerink Partners; BTIG, LLC;

Author: Michael Patrini