AVITA Medical, Inc. Announces Proposed Public Offering of Common Stock

About this update from Avita Medical, Inc.

[{"type":"text","content":"VALENCIA, Calif. and MELBOURNE, Australia, Feb. 24, 2021 (GLOBE NEWSWIRE) -- AVITA Medical, Inc. (Nasdaq: RCEL; ASX: AVH) (“AVITA Medical”), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, today announced that it has commenced an underwritten registered public offering of its common stock. In addition, AVITA Medical is expected to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering on the same terms and conditions. All of the shares of common stock to be sold in the proposed offering will be offered by AVITA Medical. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. AVITA Medical intends to use the net proceeds from this proposed offering to fund its current product development pipeline, to pursue approvals of its products for additional indications and for general corporate purposes, which may include licensing arrangements. Piper Sandler & Co. and Cowen and Company, LLC are acting as joint book-running managers for the proposed offering. The proposed offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-249419) that was previously filed with the Securities and Exchange Commission (the “SEC”) on October 9, 2020 and declared effective on October 16, 2020 and that was also publicly released on the Australian Securities Exchange (“ASX”). A preliminary prospectus supplement and accompanying prospectus related to and describing the terms of the proposed offering have been filed with the SEC and may be obtained by visiting EDGAR on the SEC's website at www.sec.gov or by contacting Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by e-mail at [email protected], or by phone at (800) 747-3924, or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, by telephone at (833) 297-2926 or by email at [email protected]. The final terms of the proposed offering will be disclosed in a final prosp...

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