Axonics secures $175M capital via equity raise

May 11, 2021 11:47 PM ETAxonics, Inc. (AXNX)By: Mamta Mayani, SA News Editor
  • Axonics (NASDAQ:AXNX) has priced its public offering of 3.5M common shares at $50.00/share, for expected gross proceeds of $175M.
  • Underwriters' over-allotment is an additional 525K shares.
  • Net proceeds will be used to repay outstanding indebtedness, for commercialization purpose, R&D activities, working capital and general corporate purposes.
  • Closing date is May 14.
  • Shares down 4.6% after-hours.
  • Previously (May 11): Axonics proposes $150M capital raise

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