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By Reuters Staff
2 Min Read
FILE PHOTO: SoftBank Corp s logo is pictured at a news conference in Tokyo, Japan, Feb. 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo
(Reuters) -Invitae Corp said on Monday a group of investors including SoftBank Group Corp will invest $1.15 billion in the U.S. genetic diagnostics company.
It said the investment, to be used for its growth initiatives, will be in convertible senior notes, which will bear 1.5% interest per year.
The company said the notes will have an initial conversion price of $43.18 per share of its common stock, representing a premium of 10.2% to Invitae’s closing price on Friday.
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