DermTech, Inc. (Nasdaq: DMTK) ("DermTech"), a leader in precision dermatology enabled by a non-invasive skin genomics platform, announced today the closing of its previously announced underwritten public offering of 4,872,881 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase up to 635,593 additional shares, at a price to the public of $29.50 per share. DermTech's aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $143.7 million. All of the shares in the offering were sold by DermTech.
Cowen and William Blair acted as joint book-running managers for the offering. BTIG, Craig-Hallum and Oppenheimer & Co. acted as lead managers for the offering, and Lake Street Capital Markets acted as co-manager for the offering.
The offering was made only by means of a written prospectus and related prospectus supplement forming part of DermTech's shelf registration statement on Form S-3 (File No. 333-248642) that was filed with the Securities and Exchange Commission (the "SEC") on September 8, 2020 and declared effective by the SEC on September 17, 2020. The final prospectus supplement and accompanying prospectus are available at the SEC's website located at www.sec.gov. Alternatively, copies may be obtained, from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926, or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by email at firstname.lastname@example.org or by telephone at 1-800-621-0687.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
DermTech is the leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by our non-invasive skin genomics platform. DermTech's mission is to transform dermatology with our non-invasive skin genomics platform, to democratize access to high quality dermatology care, and to improve the lives of millions. DermTech provides genomic analysis of skin samples collected non-invasively using an adhesive patch rather than a scalpel. DermTech markets and develops products that facilitate the early detection of skin cancers, and is developing products that assess inflammatory diseases and customize drug treatments.
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