Chicago, Illinois, August 17, 2017 — XMS Capital Partners, LLC (“XMS”), a global, independent financial services firm focused on providing M&A, corporate advisory and asset management services, has announced that it served as financial advisor to Exact Sciences Corporation (NASDAQ: EXAS) on the sale of 7 million shares of common stock at $35.00/share for a total equity raise of $245 million. Exact Sciences intends to use the net proceeds of this offering to fund expansion of its Cologuard commercialization activities, including increasing its laboratory, manufacturing and customer service capacity, funding product development efforts and for general corporate and working capital purposes. Exact Sciences’ Cologuard is the first and only FDA approved stool DNA non-invasive colorectal cancer screening test.
XMS began working with Exact Sciences in 2009 when Kevin Conroy and Maneesh Arora took over leadership of the company. XMS then assisted Exact Sciences with an $8.2 million private placement in July, 2009. The most recent financing represents the 10th public offering for the company; XMS has served as the financial adviser on all of these offerings. “We truly value our longstanding relationship with Exact Sciences. They are transforming cancer detection and we are thrilled to have played a small role in helping them achieve their mission,” said John “Yogi” Spence, Managing Partner of XMS.
Exact Sciences is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. “XMS has been an excellent financial adviser to Exact Sciences over a long period of time and is a trusted partner as we continue our commitment to help win the war against cancer through early detection,” said Kevin Conroy, Chairman of the Board, Chief Executive Officer and President of Exact Sciences.
“The growth of our business, with the addition of XA Investments, further strengthens and diversifies the XMS business. As we celebrate our 10th anniversary this year, the development of XA Investments is a natural step in the progression of our firm and positions us well for the future”
About XMS Capital Partners
XMS Capital Partners, established in 2006, is a global, independent financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, London and Dublin.
XMS provides Involvement BankingTM, which goes beyond transaction oriented investment banking and focuses on delivering objective, value added advice and custom tailored solutions to help clients achieve their strategic goals. It consistently creates value for its clients by giving them access to comprehensive, independent M&A, strategic advisory, financial restructuring, capital structure advisory and private capital advisory expertise.
All XMS engagements are led by senior investment bankers who average over 25 years of industry experience. Importantly, the combination of their extensive experience, technical expertise and “client first” orientation has served as a solid foundation of the firm since its formation in 2006. XMS Capital Partners, LLC is a FINRA member and SIPC member. For more information, please visit www.xmscapital.com.
Hank Hakewill, Hakewill & Associates
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