Bookrunner Wedbush PacGrow Life Sciences raises funds for sales force
By Devika Patel
Knoxville, Tenn., Feb. 5 – AxoGen, Inc. said it priced a $13 million public sale of stock with a $1.95 million greenshoe. The deal was announced Wednesday.
The company will sell 4,728,000 common shares at $2.75 per share. The price per share is a 6.12% discount to the Feb. 4 closing share price of $3.45.
Wedbush PacGrow Life Sciences is the bookrunner.
Proceeds will be used to expand the company’s sales force and surgeon education and for general corporate purposes.
The regenerative medicine company is based in Alachua, Fla.
| Issuer: | AxoGen, Inc.
|
| Issue: | Common stock
|
| Amount: | $13,002,000
|
| Shares: | $1,950,300
|
| Shares: | 4,728,000
|
| Price: | $2.75
|
| Warrants: | No
|
| Bookrunner: | Wedbush PacGrow Life Sciences
|
| Announcement date: | Feb. 4
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Stock symbol: | Nasdaq: AXGN
|
| Stock price: | $3.45 at close Feb. 4
|
| Market capitalization: | $56.9 million
|
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