Invitae Stock Price Increased Over 10% Pre-Market: Why It Happened

By Amit Chowdhry ● Apr 5, 2021
  • The stock price of Invitae Corp (NYSE: NVTA) has increased by over 10% pre-market. This is why it happened.

The stock price of Invitae Corp (NYSE: NVTA) has increased by over 10% pre-market. Investors appear to be responding to SoftBank Group planning to invest $1.15 billion into Invitae. This deal will be in the form of convertible debt – which will bear 1.5% interest per year.

And Invitae said the notes are going to have an initial conversion price of $43.18 per share of its common stock, which represents a premium of 10.2% of the company’s previous closing price.

J. Wood Capital Advisors LLC and Perella Weinberg Partners LP were the financial advisers to Invitae on this deal.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.