Aziyo Biologics Announces Pricing of Initial Public Offering

Rhea-AI Summary

Aziyo Biologics, Inc. (Nasdaq: AZYO) has priced its initial public offering at $17.00 per share, offering a total of 2,941,176 shares of common stock. This includes 2,205,882 shares of Class A and 735,294 shares of Class B common stock. The IPO aims to raise gross proceeds of $50 million, expected to close on October 13, 2020. Underwriters have a 30-day option to purchase an additional 441,176 shares. Trading under the ticker symbol AZYO will commence on October 8, 2020, with Piper Sandler and Cowen acting as joint book-running managers.

Positive

• Gross proceeds of $50 million expected from the IPO, enhancing capital for growth.
• Trading expected to start on Nasdaq, increasing visibility and liquidity for AZYO.

Negative

• Potential shareholder dilution if underwriters exercise their option for additional shares.

SILVER SPRING, Md., Oct. 07, 2020 (GLOBE NEWSWIRE) -- Aziyo Biologics, Inc. (Nasdaq: AZYO) today announced the pricing of its initial public offering of 2,941,176 shares of common stock, consisting of 2,205,882 shares of Class A common stock and 735,294 shares of Class B common stock, each at a public offering price of $17.00 per share, before deducting underwriting discounts and commissions. All of the common stock is being offered by Aziyo. The offering is expected to close on October 13, 2020, subject to customary closing conditions. In addition, Aziyo has granted the underwriters a 30-day option to purchase up to an additional 441,176 shares of its Class A common stock at the initial public offering price less the underwriting discounts and commissions. The gross proceeds of the offering are expected to be $50.0 million, excluding any exercise of the underwriters’ option.

Aziyo’s Class A common stock is expected to begin trading on the Nasdaq Global Market on October 8, 2020, under the ticker symbol “AZYO.”

Piper Sandler and Cowen are acting as joint book-running managers for the offering. Cantor and Truist Securities are acting as co-managers for the offering.

A registration statement relating to the securities being sold in the offering has been declared effective by the U.S. Securities and Exchange Commission on October 7, 2020. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, by contacting: Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by email at prospectus@psc.com, or by phone at (800) 747-3924; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

Investor Contact:
Leigh Salvo or Caroline Paul
Gilmartin Group
investors@aziyo.com

FAQ

What is the share price for Aziyo Biologics' IPO?

The share price for the initial public offering of Aziyo Biologics is set at $17.00 per share.

How many shares is Aziyo Biologics offering in its IPO?

Aziyo Biologics is offering a total of 2,941,176 shares of common stock in its IPO.

When will Aziyo Biologics begin trading on Nasdaq?

Aziyo Biologics is expected to begin trading on Nasdaq under the ticker symbol AZYO on October 8, 2020.

What are the expected gross proceeds from Aziyo's IPO?

The expected gross proceeds from the IPO are $50 million, excluding any options exercised by underwriters.

Who are the underwriters for Aziyo's IPO?

Piper Sandler and Cowen are acting as joint book-running managers for Aziyo's IPO.