NEW YORK (TheStreet) -- Shares of Invitae Corp.(NVTA) - Get Report are up 6.88% to $17.10 in afternoon trading after the genetic information company debuted today on the New York Stock Exchange at an initial offering price of $16.
The San Francisco-based company announced yesterday that 6,350,000 shares of its common stock would begin trading today at $16 a share for total gross proceeds of $101.6 million.
The offering is expected to close on or about February 18.
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In addition, Invitae has granted the underwriters a 30-day option to purchase up to an additional 952,500 shares of common stock at the offering price.
The company is engaged in genetic diagnostics for hereditary disorders, including breast, colon and pancreatic cancer.