Aziyo Biologics Announces Closing of $14.0 Million Private Placement
Aziyo Biologics announced the completion of a private investment in public equity (PIPE) financing, raising approximately $14 million. The financing was led by Birchview Capital and included existing investors like Deerfield Management and HighCape Capital. The funds will support scaling commercial operations, generating clinical data, and development costs for the upcoming CanGaroo RM product. The investment involved purchasing 2,122,637 shares of Class A common stock and 1,179,244 shares of Class B common stock at $4.24 per share. This transaction is part of a private placement under Regulation D.
- Successfully raised approximately $14 million through PIPE financing.
- Funding will be used to scale commercial operations and support upcoming product launches.
- Strong backing from Birchview Capital and other existing investors.
- None.
SILVER SPRING, Md., Dec. 08, 2021 (GLOBE NEWSWIRE) -- Aziyo Biologics, Inc. (the “Company”), a commercial-stage regenerative medicine company focused on creating the next generation of differentiated products and improving outcomes in patients undergoing surgery, today announced the closing of the previously announced private investment in public equity (PIPE) financing. The Company received aggregate gross proceeds of approximately
“We were pleased to see the support from Birchview Capital and our existing investors,” said Ron Lloyd, the Company’s President and CEO. “These proceeds will allow us to further scale our commercial organization, generate clinical data through the HEAL and De Novo studies and help with certain development costs ahead of the launch of CanGaroo RM, our next generation envelope product with antibiotics.”
Matthew Strobeck of Birchview Capital commented, “We are pleased to be able to participate in this important financing for Aziyo. We believe that this capital will support and enhance the Company's regenerative medicine growth opportunities, including products such as the CanGaroo Envelope and the SimpliDerm acellular dermal matrix.”
The PIPE investors purchased an aggregate of 2,122,637 shares of the Company’s Class A common stock and an aggregate of 1,179,244 shares of the Company’s Class B common stock (which are convertible on a one-for-one basis into shares of Class A common stock), in each case, at a price of
The offer and sale of the foregoing securities were 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 have been sold in a private placement pursuant to Regulation D of the Securities Act. The securities 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.
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.
About Aziyo Biologics, Inc.
Aziyo Biologics, Inc. is a commercial-stage regenerative medicine company focused on creating the next generation of differentiated products and improving outcomes in patients undergoing surgery, concentrating on patients receiving implantable medical devices. Since its founding in 2015, the Company has created a portfolio of commercial-stage products used in cardiovascular, orthopedic, and reconstructive specialties. For more information, visit www.Aziyo.com.
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, the amount of any proceeds from, and the Company’s use 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.
Media:
Courtney Guyer
Aziyo Biologics, Inc.
PR@aziyo.com
Investors:
Leigh Salvo
Gilmartin Group
investors@aziyo.com
FAQ
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