Aziyo Biologics Announces $14.0 Million Private Placement

Rhea-AI Summary

Aziyo Biologics has announced a definitive agreement for a private placement expected to raise approximately $14 million before expenses. This deal involves the sale of 2,122,637 shares of Class A and 1,179,244 shares of Class B common stock at $4.24 per share, with the closing anticipated on December 8, 2021. The offering is not a public offering and will be executed under Regulation D of the Securities Act, necessitating a registration statement for resale of Class A shares. Forward-looking statements in the release caution that actual results may vary.

Positive

• Private placement expected to raise approximately $14 million for Aziyo.
• Sales include over 3.3 million shares of common stock at $4.24 per share, potentially bolstering liquidity.

Negative

• Offering is not a public offering, limiting broader market participation.
• Forward-looking statements highlight risks that actual results may differ significantly.

SILVER SPRING, Md., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Aziyo Biologics, Inc. (the “Company”) today announced that it has entered into a definitive agreement to sell securities in a private placement that is expected to result in gross proceeds to the Company of approximately $14.0 million, before deducting offering expenses.

Certain accredited investors have agreed to purchase an aggregate of 2,122,637 shares of the Company’s Class A common stock and 1,179,244 shares of the Company’s Class B common stock, in each case, at a price of $4.24 per share. The closing of the offering is subject to certain conditions and is expected to occur on December 8, 2021.

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and will be sold in a private placement pursuant to Regulation D of the Securities Act. The securities being issued in the private placement may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. The Company has agreed to file a registration statement covering the resale of the shares of Class A common stock acquired by, or shares of Class A common stock issuable upon conversion of shares of Class B common stock acquired by, the investors in the private placement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer or sale would be unlawful prior to the registration or qualification under the securities laws of such state. Any offering of the securities under the resale registration statement will only be by means of a prospectus.

Forward-Looking Statements
Any statements in this press release about the future expectations, plans and prospects of the Company, including without limitation, statements relating to the closing of and the amount of any proceeds from the private placement transaction, and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “hypothesize,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, on November 10, 2021, and in other filings that the Company makes with the SEC. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The company specifically disclaims any obligation to update any forward-looking statements included in this press release.

Contact Information:
Courtney Guyer
Aziyo Biologics, Inc.
PR@aziyo.com

Leigh Salvo
Gilmartin Group
investors@aziyo.com

FAQ

What is the purpose of the $14 million private placement by AZYO?

The private placement aims to raise funds to enhance the company's liquidity and support ongoing operations.

When will the AZYO private placement offering close?

The closing of the private placement is expected on December 8, 2021.

How many shares are being sold in the AZYO private placement?

Aziyo is selling 2,122,637 shares of Class A and 1,179,244 shares of Class B common stock.

What is the price per share for AZYO's private placement?

The shares are being sold at a price of $4.24 per share.

What regulations govern the AZYO private placement?

The securities are being sold under Regulation D of the Securities Act, not requiring public registration.