Axonics Announces Upsize and Pricing of Public Offering of Common Stock
Axonics, Inc. (Nasdaq: AXNX) (“Axonics”), a global medical technology company that has developed and is commercializing novel products for the treatment of bladder and bowel dysfunction, today announced the pricing of its public offering of 3,500,000 shares of its common stock at a public offering price of $50.00 per share, before underwriting discounts and commissions. The gross proceeds from the offering to Axonics, before deducting underwriting discounts and commissions and offering expenses, are expected to be $175 million. In addition, the underwriters have a 30-day option to purchase up to an additional 525,000 shares of common stock from Axonics on the same terms and conditions. The offering is expected to close on May 14, 2021, subject to the satisfaction of customary closing conditions.
Axonics anticipates using net proceeds from the offering to repay all or a portion of its outstanding indebtedness of $75 million, to 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 offering. Baird, Guggenheim Securities, Needham & Company and Truist Securities are acting as co-managers for the offering.
The shares described above are being offered pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was 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 have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus and, when available, copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained by contacting: BofA Securities, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by email at firstname.lastname@example.org; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402; or by telephone at (800) 747- 3924 or by email at email@example.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by telephone at (800) 808-7525, ext. 6105 or by email at firstname.lastname@example.org. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.