Accolade Announces Proposed Public Offering of Common Stock
October 19 2020 - 4:28PM
Accolade, Inc. (“Accolade”), which provides personalized,
technology-enabled solutions that help people better understand,
navigate, and utilize the healthcare system and their workplace
benefits, today announced it has filed a registration statement on
Form S-1 with the U.S. Securities and Exchange Commission for a
proposed public offering of 4,500,000 shares of its common stock.
In addition, Accolade expects to grant the underwriters a 30-day
option to purchase up to 675,000 additional shares of its common
stock at the public offering price, less the underwriting discount.
The public offering price has not yet been determined. The offering
is subject to market and other conditions and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Accolade currently intends to use the net
proceeds from the proposed offering for general corporate purposes,
including working capital, operating expenses, capital
expenditures, acquisitions and strategic investments.
Goldman Sachs & Co. LLC, Morgan Stanley, and
BofA Securities are acting as joint book-running managers for the
proposed offering. Piper Sandler, Credit Suisse and William Blair
are acting as book-running managers. Baird, SVB Leerink, Canaccord
Genuity and Academy Securities are acting as co-managers.
The proposed offering of these securities will
be made only by means of a prospectus. Copies of the preliminary
prospectus relating to the proposed offering may be obtained from:
Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200
West Street, New York, New York 10282, or by email
at prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co.
LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014, or by email at prospectus@morganstanley.com;
or BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200
North College Street, 3rd Floor, Charlotte, North Carolina
28255-0001, or by email at dg.prospectus_requests@bofa.com.
A registration statement relating to these
securities has been filed with the Securities and Exchange
Commission but has not yet become effective. These securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as “may,” “will,” “expect,” “intend,” and similar
expressions (as well as other words or expressions referencing
future events, conditions or circumstances) are intended to
identify forward-looking statements. These forward-looking
statements are based on Accolade’s expectations and assumptions as
of the date of this press release. Each of these forward-looking
statements involves risks and uncertainties. Actual results may
differ materially from these forward-looking statements.
Forward-looking statements contained in this press release include
statements regarding, among other things, the timing, size,
completion and use of proceeds of the proposed public offering.
Many factors may cause differences between current expectations and
actual results in such forward-looking statements as a result of
various risks and uncertainties, which include, without limitation,
market risks and uncertainties and the satisfaction of customary
closing conditions for an offering of securities. These and other
risks and uncertainties are described in Accolade’s filings with
the SEC, including in the risk factors included in its Registration
Statement on Form S-1 filed with the SEC on October 19, 2020.
Except as required by law, Accolade assumes no obligation to update
any forward-looking statements contained herein to reflect any
change in expectations, even as new information becomes
available.
Contact Todd FriedmanInvestor
Relations484-532-5200Todd.Friedman@accolade.com
Asher Dewhurst Investor
Relations443-213-0500Accolade@westwicke.com
Megan TorresPublic Relations
206-679-9630Megan.Torres@accolade.com
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