11:23 AM EDT, 08/26/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

Guardant Health ( GH ) shares were down nearly 9% in recent Monday trading after the company said it agreed to an open market sale of common shares for up to $400 million.

In a securities filing late Friday, the company said it may offer or sell shares from time to time with Jefferies as the sales agent. Under the agreement, the investment bank will receive 3% of gross proceeds.

Net proceeds from the sale of shares will be used for general corporate purposes, including working capital, operating expenses and capital expenditures.

Price: 26.43, Change: -2.60, Percent Change: -8.94