AxoGen now to sell 4,186,046 shares in $20.7 million public stock sale

JMP, Ladenburg help raise funds for marketing and product development

By Devika Patel

Knoxville, Tenn., Aug. 7 - AxoGen, Inc. decreased the number of shares it plans to sell in its $20.7 million public offering of common stock, according to a Form S-1/A filed Wednesday with the Securities and Exchange Commission. The deal was announced as a $15 million offering on May 14, was amended to raise $17.25 million on June 15 and revised again to its current size on Aug. 5. The sale has a 30-day greenshoe.

The company will now sell up to 4,186,046 common shares, down from 4,235,294 shares, with an additional 627,906 shares as part of the greenshoe. The greenshoe originally consisted of 635,294 shares.

JMP Securities LLC and Ladenburg Thalmann & Co. are the bookrunners.

Proceeds will be used for continued product commercialization and marketing efforts, development of product pipeline, including product line extension, and for general working capital purposes.

The regenerative medicine company is based in Alachua, Fla.

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