Axonics Announces Proposed Public Offering of Common Stock

Axonics, Inc. (Nasdaq: AXNX), a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction, today announced that it has commenced a proposed public offering of $150,000,000 in shares of its common stock. Axonics expects to grant the underwriters a 30-day option to purchase up to $22,500,000 in additional shares of its common stock at the public offering price, less the underwriting discount and commissions.

Axonics anticipates using net proceeds from the offering to repay all or a portion of its outstanding indebtedness of $75 million, support the commercialization of its products throughout the United States and internationally, to conduct related research and development activities and to fund the technological enhancement of its products, and for working capital and general corporate purposes.

BofA Securities, Piper Sandler and SVB Leerink are acting as the joint book-running managers for the proposed offering. Baird, Guggenheim Securities, Needham & Company and Truist Securities are acting as co-managers for the offering. The offering is subject to market and other customary closing conditions, and there can be no assurance as to whether or when the offering may be completed.

The shares described above are being offered pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was previously filed by Axonics with the Securities and Exchange Commission (“SEC”) on May 7, 2020 and became automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained by contacting: BofA Securities, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by email at [e-mail]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402; or by telephone at [phone] or by email at [e-mail] or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by telephone at [phone], ext. 6105 or by email at [e-mail]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.