Exagen Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares...
September 23 2019 - 1:36PM
Exagen Inc. (Nasdaq: XGN), an organization dedicated to
transforming the care continuum for patients suffering from
debilitating and chronic autoimmune diseases by enabling timely
differential diagnosis and optimizing therapeutic intervention,
today announced the closing of its previously announced initial
public offering of 4,140,000 shares of its common stock, which
includes the exercise in full by the underwriters of their option
to purchase 540,000 additional shares, at a public offering price
of $14.00 per share. Including the option exercise, the
aggregate gross proceeds to Exagen from the offering were $58.0
million, before deducting the underwriting discounts and
commissions and other offering expenses. Exagen’s common stock is
listed on the Nasdaq Global Market under the ticker symbol “XGN.”
Cowen and Company, LLC, Cantor Fitzgerald &
Co., and William Blair & Company, L.L.C. acted as joint
book-running managers for the offering.
Registration statements relating to these
securities have been filed with the Securities and Exchange
Commission and became effective on September 18, 2019. A
prospectus relating to and describing the terms of the offering has
been filed with the SEC and is available on the SEC’s website at
www.sec.gov.
The offering was made only by means of a
prospectus. Copies of the final prospectus relating to this
offering can be obtained from: Cowen and Company, LLC c/o
Broadridge Financial Solutions, Attention: Prospectus Department,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
(631) 274-2806, or by emailing
PostSaleManualRequests@broadridge.com; from Cantor Fitzgerald &
Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor New
York, NY 10022, or by emailing prospectus@cantor.com; or from
William Blair & Company, L.L.C., Attention: Prospectus
Department, 150 North Riverside Plaza, Chicago, IL 60606, or by
telephone at (800) 621-0687, or by emailing
prospectus@williamblair.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any offer or sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Exagen Inc.
Exagen is dedicated to transforming the care
continuum for patients suffering from debilitating and chronic
autoimmune diseases by enabling timely differential diagnosis and
optimizing therapeutic intervention. Exagen has developed and is
commercializing a portfolio of innovative testing products under
its AVISE brand, several of which are based on our proprietary
Cell-Bound Complement Activation Products, or CB-CAPs, technology.
Exagen’s goal is to enable rheumatologists to improve care for
patients through the differential diagnosis, prognosis and
monitoring of complex autoimmune and autoimmune-related diseases,
including SLE and rheumatoid arthritis.
Kamal Adawi
Exagen Inc.
760.477.5514
KAdawi@Exagen.com
Mike Cavanaugh
Westwicke Partners
646.677.1838
Mike.Cavanaugh@westwicke.com
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