Exagen Inc. Announces Proposed Public Offering of Common Stock
March 22 2021 - 4:05PM
Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune
testing solutions, today announced that it intends to offer and
sell, subject to market and other conditions, shares of its common
stock in an underwritten public offering. In addition, Exagen
intends to grant the underwriters a 30-day option to purchase up to
an additional 15% of the shares of common stock offered in the
public offering. All of the shares to be sold in the offering are
to be sold by Exagen. 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.
Exagen intends to use the net proceeds from the proposed
offering for the development of Multi-omics capabilities, including
build out of its clinical laboratory, advancement of its product
pipeline, including to support development of tests for
fibromyalgia, RA, thrombosis and lupus nephritis, enhancement of
intellectual property protection for its technologies, and for
working capital and other general corporate purposes. Exagen may
also use a portion of the net proceeds to in-license, acquire, or
invest in complementary businesses, technologies, products or
assets; however, it has no current commitments or obligations to do
so.
Cowen, William Blair and Cantor are acting as joint bookrunning
managers for the offering. Canaccord Genuity is also acting as
bookrunning manager for the offering. BTIG is acting as lead
manager for the offering.
The securities described above are being offered by Exagen
pursuant to a shelf registration statement previously filed and
declared effective by the Securities and Exchange Commission (SEC).
A preliminary prospectus supplement and accompanying prospectus
relating to this offering will be filed with the SEC. When
available, copies of the preliminary prospectus supplement and the
accompanying prospectus relating to this offering may be obtained
from: Cowen and Company, LLC c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus
Department, by email at PostSaleManualRequests@broadridge.com or by
telephone at (833) 297-2926; or from William Blair & Company,
L.L.C., Attention: Prospectus Department, 150 North Riverside
Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email:
prospectus@williamblair.com; or from Cantor Fitzgerald & Co.,
Attention: Capital Markets, 499 Park Avenue, 6th Floor, New York,
New York 10022, by telephone at 212-829-7122 or by email at
prospectus@cantor.com. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus will also be
available on the website of the SEC at http://www.sec.gov.
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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Exagen
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 providers to improve care for patients
through the differential diagnosis, prognosis and monitoring of
complex autoimmune and autoimmune-related diseases, including
rheumatoid arthritis and lupus.
Forward Looking Statements
Exagen cautions you that statements contained in this press
release regarding matters that are not historical facts are
forward-looking statements. These statements are based on the
company’s current beliefs and expectations. Such forward-looking
statements include, but are not limited to, statements regarding
Exagen’s expectations of the completion, timing and size of the
proposed public offering and the anticipated use of proceeds
therefrom. The inclusion of forward-looking statements should not
be regarded as a representation by Exagen that any of its plans
will be achieved. Actual results may differ from those set forth in
this press release due to the risks and uncertainties associated
with market conditions and the satisfaction of customary closing
conditions related to the proposed public offering, as well as
risks and uncertainties inherent in Exagen’s business, including
those described in the company’s prior press releases and the
Company’s filings with the Securities and Exchange Commission
(SEC), including under the heading “Risk Factors” in the company’s
Annual Report on Form 10-K and any subsequent filings with the SEC.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and Exagen undertakes no obligation to update such statements to
reflect events that occur or circumstances that exist after the
date hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, which is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
CONTACTS:
InvestorsWestwicke PartnersMike
CavanaughMike.Cavanaugh@westwicke.com646.677.1838
CompanyExagen Inc.Kamal Adawi, Chief Financial
Officerkadawi@exagen.com760.477.5514
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