Business
Exagen Inc. Announces Closing of Public Offering of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
SAN DIEGO, March 25, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced that it has
About this update from Exagen Inc.
[{"type":"text","content":"SAN DIEGO, March 25, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced that it has closed its previously announced underwritten public offering of 4,255,000 shares of its common stock, including 555,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a price to the public of $16.25 per share. The gross proceeds to Exagen from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $69.1 million. Exagen intends to use the net proceeds from the proposed offering for the development of Multi-omics capabilities, including build out of its clinical laboratory, advancement of its product pipeline, including to support development of tests for fibromyalgia, RA, thrombosis and lupus nephritis, enhancement of intellectual property protection for its technologies, and for working capital and other general corporate purposes. Exagen may also use a portion of the net proceeds to in-license, acquire, or invest in complementary businesses, technologies, products or assets; however, it has no current commitments or obligations to do so. Cowen, William Blair and Cantor acted as joint bookrunning managers for the offering. Canaccord Genuity acted as bookrunning manager for the offering. BTIG acted as lead manager for the offering. The securities described above were offered by Exagen pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement and the accompanying prospectus relating to this offering bas been filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email: [email protected]; or from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor, New York, New York 1...