Axonics® Announces Proposed Public Offering of Common Stock
May 11 2021 - 4:17PM
Business Wire
Axonics, Inc. (Nasdaq: AXNX), a global medical technology
company that is developing and commercializing novel products for
the treatment of bladder and bowel dysfunction, today announced
that it has commenced a proposed public offering of $150,000,000 in
shares of its common stock. Axonics expects to grant the
underwriters a 30-day option to purchase up to $22,500,000 in
additional shares of its common stock at the public offering price,
less the underwriting discount and commissions.
Axonics anticipates using net proceeds from the offering to
repay all or a portion of its outstanding indebtedness of $75
million, support the commercialization of its products throughout
the United States and internationally, to conduct related research
and development activities and to fund the technological
enhancement of its products, and for working capital and general
corporate purposes.
BofA Securities, Piper Sandler and SVB Leerink are acting as the
joint book-running managers for the proposed offering. Baird,
Guggenheim Securities, Needham & Company and Truist Securities
are acting as co-managers for the offering. The offering is subject
to market and other customary closing conditions, and there can be
no assurance as to whether or when the offering may be
completed.
The shares described above are being offered pursuant to a shelf
registration statement on Form S-3, including a base prospectus,
which was previously filed by Axonics with the Securities and
Exchange Commission (“SEC”) on May 7, 2020 and became automatically
effective upon filing. A preliminary prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
When available, copies of the preliminary prospectus supplement and
the accompanying prospectus may be obtained by contacting: BofA
Securities, 200 North College Street, 3rd Floor, Charlotte NC
28255-0001, Attention: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402; or by telephone at (800) 747-3924 or by
email at prospectus@psc.com or SVB Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA,
02110, or by telephone at (800) 808-7525, ext. 6105 or by email at
syndicate@svbleerink.com. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
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.
About Axonics, Inc.
Based in Irvine, Calif., Axonics is a global medical technology
company that is developing and commercializing novel products for
patients with urinary and bowel dysfunction.
Forward-Looking Statements
Statements Axonics makes in this press release may include
statements which are not historical facts and are considered
forward-looking within the meaning of Section 27A of the Securities
Act of 1933, as amended (“Securities Act”), and Section 21E of the
Securities Exchange Act of 1934, as amended (“Exchange Act”), which
are usually identified by the use of words such as “anticipates,”
“believes,” “estimates,” “expects,” “intends,” “may,” “plans,”
“projects,” “seeks,” “should,” “will,” and variations of such words
or similar expressions. Axonics intends these forward-looking
statements to be covered by the safe harbor provisions for
forward-looking statements contained in Section 27A of the
Securities Act and Section 21E of the Exchange Act and is making
this statement for purposes of complying with those safe harbor
provisions. These forward-looking statements, including references
to Axonics’ expectations regarding the completion, timing and size
of its proposed public offering, its expectations with respect to
granting the underwriters a 30-day option to purchase additional
shares and the anticipated use of proceeds therefrom, reflect its
current views about its plans, intentions, expectations, strategies
and prospects, which are based on the information currently
available to Axonics and on assumptions it has made. While these
forward-looking statements are based on the current expectations
and beliefs of management, such forward-looking statements are
subject to a number of risks, uncertainties, assumptions and other
factors that could cause actual results to differ materially from
the expectations expressed in this press release, including
statements regarding the proposed public offering and the risks and
uncertainties disclosed in Axonics’ filings with the SEC, all of
which are available online at www.sec.gov. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Except as required by law,
Axonics undertakes no obligation to update or revise any
forward-looking statements to reflect new information, changed
circumstances or unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20210511006193/en/
Axonics Neil Bhalodkar Investor Relations 949-336-5293
ir@axonics.com
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