Axonics Modulation Technologies (AXNX) to Offer $150M in Common Stock

Axonics, Inc. (Nasdaq: AXNX), a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction, today announced that it has commenced a proposed public offering of $150,000,000 in shares of its common stock. Axonics expects to grant the underwriters a 30-day option to purchase up to $22,500,000 in additional shares of its common stock at the public offering price, less the underwriting discount and commissions.

Axonics anticipates using net proceeds from the offering to repay all or a portion of its outstanding indebtedness of $75 million, support the commercialization of its products throughout the United States and internationally, to conduct related research and development activities and to fund the technological enhancement of its products, and for working capital and general corporate purposes.

BofA Securities, Piper Sandler and SVB Leerink are acting as the joint book-running managers for the proposed offering. Baird, Guggenheim Securities, Needham & Company and Truist Securities are acting as co-managers for the offering. The offering is subject to market and other customary closing conditions, and there can be no assurance as to whether or when the offering may be completed.

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