- 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.
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