Aziyo Biologics, Inc. Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Aziyo Biologics, Inc. (Nasdaq: AZYO) has initiated an underwritten public offering of its common stock, subject to market conditions. The company plans to provide the underwriter with a 30-day option for additional shares equivalent to 15% of the offering. Proceeds will support product development, clinical research, and sales personnel expansions. The offering is registered under an effective shelf registration statement with the SEC, filed on August 31, 2022. There is no assurance on the timing or completion of the offering.

Positive

• Intended use of proceeds for product development and clinical research.
• Expansion of sales personnel to support product launches.

Negative

• Potential dilution of existing shareholder value due to the offering.
• Market uncertainty regarding the successful completion of the offering.

SILVER SPRING, Md., Nov. 30, 2022 (GLOBE NEWSWIRE) -- Aziyo Biologics, Inc. (Nasdaq: AZYO) (“Aziyo”), a biologics company with a portfolio of regenerative products aimed at improving compatibility between medical devices and the patients they treat, today announced that it has commenced an underwritten public offering, subject to market and other conditions, of shares of its common stock. Aziyo also intends to grant the underwriter a 30-day option to purchase additional shares of its common stock equal to 15% of the shares of common stock to be sold in the offering to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. All shares in the offering are to be sold by Aziyo.

Cantor Fitzgerald & Co. is acting as sole book running manager for the proposed offering.

Aziyo intends to use the net proceeds of the offering to expand its product development and clinical research activities, hire additional sales personnel to coincide with product launches and the remainder to fund working capital and other general corporate purposes.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (SEC) on August 31, 2022 and declared effective on September 8, 2022. A preliminary prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering may be obtained, when available, by contacting Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th floor, New York, NY 10022; Email: prospectus@cantor.com. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and the other documents that Aziyo has filed with the SEC for more complete information about Aziyo and the proposed offering.

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

Forward-Looking Statements

This press release contains, and Aziyo’s officers and representatives may make from time to time, “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements can be identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential,” “promise” or similar references to future periods. Examples of forward-looking statements in this release include, without limitation, statements regarding the consummation of the offering, the terms of the offering, the satisfaction of customary closing conditions with respect to the offering and the anticipated use of the net proceeds of the offering. Forward-looking statements are statements that are not historical facts, nor assurances of future performance. Instead, they are based on Aziyo’s current beliefs, expectations and assumptions regarding the future of its business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict and many of which are beyond Aziyo’s control, including those detailed in Aziyo’s filings with the SEC. Actual results may differ from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, among others, the uncertainties related to market conditions or for other reasons, the risk that the offering will not be consummated, and Aziyo’s ability to improve compatibility between medical devices and the patients they treat. Any forward-looking statement made by Aziyo in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, Aziyo expressly disclaims any obligations to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investors:
Matt Ferguson
Aziyo Biologics, Inc.
investors@aziyo.com

Matt Steinberg
FINN Partners
matt.steinberg@finnpartners.com

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

FAQ

What is the purpose of Aziyo's public offering?

Aziyo intends to use the net proceeds for product development, clinical research, hiring sales personnel, and general corporate purposes.

How much is Aziyo planning to raise in its offering?

The exact amount has not been disclosed, as the offering is subject to market conditions.

What significant risks are associated with Aziyo's public offering?

Risks include market uncertainties and potential dilution of existing shares.

Who is managing Aziyo's underwritten public offering?

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

When was Aziyo's registration statement filed with the SEC?

The effective shelf registration statement was filed on August 31, 2022, and declared effective on September 8, 2022.