Company sells additional 709,200 shares, to settle Feb. 13
By Marisa Wong
Madison, Wis., Feb. 10 – AxoGen, Inc. announced that the underwriter of its public offering of common stock exercised its over-allotment option in full for an additional 709,200 shares, resulting in additional proceeds of $1.95 million.
Settlement for the additional shares is expected to occur on Feb. 13, according to a press release.
As previously reported, AxoGen priced a $13 million public sale of stock with a $1.95 million greenshoe. The company sold an initial 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: | $14,952,300 (including $1,950,300 exercised greenshoe)
|
| Shares: | 5,437,200 (including 709,200 from greenshoe)
|
| Price: | $2.75
|
| Warrants: | No
|
| Bookrunner: | Wedbush PacGrow Life Sciences
|
| Announcement date: | Feb. 4
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10 for $13,002,000, Feb. 13 for $1,950,300
|
| Stock symbol: | Nasdaq: AXGN
|
| Stock price: | $3.45 at close Feb. 4
|
| Market capitalization: | $61.97 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
