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Axonics Prices Common Stock Offering at $50 Per Share

05/11/2021 23:20

03:18 AM EDT, 05/12/2021 (MT Newswires) -- Axonics (AXNX) on Tuesday priced its public offering of 3.5 million common shares at $50 per share for gross proceeds of $175 million.

The offering, which is expected to close on May 14, was increased from its initial size of $150 million in common shares.

Underwriters have a 30-day option to buy up to 525,000 additional common shares.

Net proceeds from the offering will be used to repay all or a portion of the company's outstanding debt of $75 million. A portion will also be used to support the commercialization of its productions throughout the US and internationally, to conduct related research and development activities, to fund the technological enhancement of its products, as well as for working capital and general corporate purposes, according to the statement.

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