Abbott
(NYSE: ABT)
today filed a prospectus outlining the planned offering of $20 billion in various notes.
After deducting discounts and estimated expenses, Abbott expects proceeds to total more than $19.8 billion, according to an SEC filing.
The company intends to use the proceeds from the offering, along with cash on hand and/or additional borrowings, to fund its planned acquisition of Exact Sciences. Funds may also help to repay certain indebtedness of Exact Sciences or to pay related fees and expenses. Other uses include general corporate purposes.
In November 2025, Abbott struck an agreement to acquire Exact Sciences for approximately $21 billion. Madison, Wisconsin–based Exact Sciences develops cancer screening and diagnostic tests. Its portfolio includes the flagship Cologuard, a non-invasive test to screen for colorectal cancer.
The company also offers the established Oncotype Dx, alongside the Cancerguard test for multi-cancer early detection and the Oncodetect test for molecular residual disease and recurrence monitoring.
Exact Sciences stockholders approved the merger earlier this week.
Abbott’s offering includes a series of eight notes, all amounting to $20 billion. The notes are defined as follows:
- $1 billion in floating rate notes due 2029
- $2.25 billion in 3.7% notes due 2029
- $2.5 billion in 4% notes due 2031
- $2.75 billion in 4.3% notes due 2033
- $3.75 billion in 4.65% notes due 2036
- $2 billion in 4.75% notes due 2038
- $3.75 billion in 5.5% notes due 2056
- $2 billion in 5.6% notes due 2066
