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8/8/2012 9:51 AM ET

Exact Sciences Corp. (EXAS: Quote), announced Wednesday an underwritten public offering of 5,500,000 shares at a price of $9.75 per share.

After deducting underwriting discounts and commissions and other estimated offering expenses, net proceeds are expected to be $50.2 million.

Underwriters are given a 30-day option to purchase up to 825,000 shares of stocks.

The offering may close on or before August 13, 2012, subject to customary closing conditions.

Jefferies & Company, Inc. and Robert W. Baird & Co. Inc., are acting as joint book managers. Meanwhile, William Blair & Company, L.L.C. and JMP Securities LLC are acting as co-managers for the offering.

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