Accolade Announces Pricing of Public Offering of Common Stock
October 21 2020 - 11:57PM
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 the pricing of its previously announced
underwritten public offering of 5,000,000 shares of its common
stock at a price to the public of $38.50 per share. The offering is
expected to close on October 26, 2020, subject to customary closing
conditions. In addition, Accolade has granted the underwriters a
30-day option to purchase up to 750,000 additional shares of its
common stock at the public offering price, less the underwriting
discount.
Accolade currently
intends to use the net proceeds from the 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 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 offering is being
made only by means of a prospectus. When available, copies of the
final prospectus relating to the 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, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014 or by email at
prospectus@morganstanley.com; or BofA Securities, Attention:
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.
Registration
statements relating to these securities have been filed with, and
declared effective by, the U.S. Securities and Exchange Commission.
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, completion and use of proceeds of the 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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