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IPO Profile: CareDx Inc

Company Details

Location: 3260 Bayshore Boulevard, Brisbane, California 94005

Phone: (415) 287-2300

Website: http://www.caredxinc.com

Business Description: CareDx Inc develops molecular diagnostics

Investment & Return Details

VC backers: TPG Growth LLC, Sprout Group, Intel Capital Corp, Burrill & Co, Duff Ackerman & Goodrich LLC

Investment Dates: 01/31/2003, 06/30/2004, 12/01/2004, 01/05/2006, 05/01/2007, 06/30/2008, 08/05/2009, 07/12/2010, 01/28/2011, 11/14/2011, 09/13/2012

Total Funding To Date (USD Mil): $121.03

Value of VCs’ shares at IPO price (USD Mil): $44.41

Total return to VCs at IPO price: 0.37x

Shares Beneficially owned by VCs at Offering:

  • Kleiner Perkins Caufield & Byers LLC: 1,061,218
  • TPG Growth LLC: 1,026,396
  • Sprout Group: 687,054
  • Intel Capital Corp: 631,338
  • Burrill & Co: 583,577
  • Duff Ackerman & Goodrich LLC: 451,334
  • Total: 4,440,917

Value of VC shares at IPO price (USD Mil):

  • Kleiner Perkins Caufield & Byers LLC: $10.26
  • TPG Growth LLC: $6.87
  • Sprout Group: $6.87
  • Intel Capital Corp: $6.31
  • Burrill & Co: $5.83
  • Duff Ackerman & Goodrich LLC: $4.51
  • Total: $44.41

IPO Details

Primary Exchange: Nasdaq

Ticker: CDNA

Time to Exit (Years): 11.5

Date Filed: 06/03/2014

Date Issued: 07/16/2014

Offer Price (USD): $10.00

First Day Closing Price (USD): $9.05

No. of Shares Offered + Overallot Sold All Mkts: 4,000,000

Proceeds Amt + Overallot Sold All Markets (USD Mil): $40.00

Post Offer Value (USD Mil): $155.71

Issuer’s Legal Advisor: Wilson Sonsini Goodrich & Rosati

Book Runner: Leerink Partners LLC, Piper Jaffray Cos

Co-Managers: Mizuho Securities USA Inc, Raymond James & Associates Inc

Source: Thomson Reuters and company prospectus