Axonics® Announces Closing of Public Stock Offering and Full Exercise of Underwriters’ Option to Purchase Additional Stock

Rhea-AI Summary

Axonics, Inc. (Nasdaq: AXNX) has successfully closed its public offering of 4,025,000 shares of common stock at $50.00 per share, raising approximately $201.3 million in gross proceeds. This includes 525,000 shares purchased through underwriters' options. The offering was managed by BofA Securities, Piper Sandler, and SVB Leerink, with several firms acting as co-managers. The shares were offered under an automatic shelf registration statement filed with the SEC.

Positive

• Raised approximately $201.3 million in gross proceeds from the stock offering.
• Successfully closed the public offering with full exercise of underwriters' option.

Negative

• Potential dilution of existing shareholders due to the new stock issuance.

Axonics, Inc. (Nasdaq: AXNX), (“Axonics”), a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction, today announced the closing of its public offering of 4,025,000 shares of common stock at the public offering price of $50.00 per share, which includes the exercise in full by the underwriters of the underwriters’ option to purchase 525,000 additional shares at the public offering price. The gross proceeds from the offering to Axonics, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $201.3 million.

BofA Securities, Piper Sandler and SVB Leerink acted as the joint book-running managers for the offering and representatives of the underwriters. Baird, Guggenheim Securities, Needham & Company and Truist Securities acted as co-managers for the offering.

The shares described above were offered pursuant to an automatic 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 final 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 final prospectus supplement and accompanying prospectus relating to this offering may be obtained by contacting: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, or by telephone at (800) 747-3924 or by email at prospectus@psc.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 syndicate@svbleerink.com. The final terms of the offering were disclosed in the final prospectus supplement filed with the SEC.

About Axonics, Inc.

Based in Irvine, Calif., Axonics is a global medical technology company that is developing and commercializing novel products for patients with urinary and bowel dysfunction.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005428/en/

FAQ

What was the public offering price for Axonics shares?

The public offering price for Axonics shares was $50.00 per share.

How much capital did Axonics raise from its public offering?

Axonics raised approximately $201.3 million in gross proceeds from its public offering.

Who managed the Axonics public offering?

The public offering was managed by BofA Securities, Piper Sandler, and SVB Leerink.

What is the stock symbol for Axonics?

The stock symbol for Axonics is AXNX.

How many shares were included in the Axonics public offering?

A total of 4,025,000 shares were included in the Axonics public offering.