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Augmedix, Inc. Announces Uplisting to Nasdaq and Pricing of Public Offering of $40,000,000 of Common Stock

SAN FRANCISCO, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Augmedix, Inc. (Nasdaq: AUGX) ("Augmedix"), a leading provider of virtual medical documentation and live clinical support, today announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock (“Common Stock”) at a public offering price of $4.00 per share. In addition, Augmedix has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Common Stock at the public offering price less the underwriting discounts and commissions. Gross proceeds from the offering before expenses and underwriting commissions are expected to be $40,000,000.00. The offering is expected to close on or about October 28, 2021 subject to customary closing conditions. Augmedix plans to use the net proceeds it receives from the offering to fund increased investment in sales and marketing, research and development and general and administrative costs as Augmedix increases its scale.

The Common Stock has been approved for listing on the Nasdaq Capital Market and is expected to begin trading thereon under the symbol “AUGX” on Tuesday, October 26, 2021. The Common Stock will no longer trade on the over-the-counter securities market.

William Blair & Company, L.L.C. is acting as sole active bookrunner for the offering. B. Riley Securities, Inc. and Maxim Group LLC are acting as passive bookrunners. The Benchmark Company, LLC and Lake Street Capital Markets, LLC acted as financial advisors to the Company.

The shares of Common Stock were offered pursuant to a preliminary prospectus forming part of the Registration Statement on Form S-1 that was declared effective by the Securities and Exchange Commission on October 7, 2021.

About Augmedix

Augmedix, Inc. (Nasdaq: AUGX) is a leading digital health platform that offers virtual medical documentation and live clinical support to large healthcare systems and physician practices, supporting medical offices, clinics, hospitals, emergency departments and telemedicine practices nationwide. The Company’s Ambient Automation Platform converts the natural conversation between physicians and patients into accurate and comprehensive medical notes in a timely fashion and provides a suite of industry-leading ancillary services. The medical note is generated using Augmedix’s proprietary platform, which incorporates structured data models, automated speech recognition and natural language processing and is overseen by trained medical documentation specialists. Augmedix can save physicians 2–3 hours per day, improve productivity by as much as 20%, and increase satisfaction with work-life balance by over 40%. To learn more about Augmedix visit augmedix.com.

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26.10.2021, 04:02  |  129   |   |   

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Augmedix, Inc. Announces Uplisting to Nasdaq and Pricing of Public Offering of $40,000,000 of Common Stock SAN FRANCISCO, Oct. 25, 2021 (GLOBE NEWSWIRE) - Augmedix, Inc. (Nasdaq: AUGX) ("Augmedix"), a leading provider of virtual medical documentation and live clinical support, today announced the pricing of an underwritten public offering of 10,000,000 …

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