Axonics® raises $110 million via Public Offering of Common Stock - Gilde Healthcare

Axonics® raises $110 million via Public Offering of Common Stock

November 21, 2019

Irvine, CA (US) – Axonics Modulation Technologies, Inc. (NASDAQ: AXNX) (“Axonics”), a medical technology company that has developed and is commercializing novel implantable rechargeable sacral neuromodulation (“SNM”) devices for the treatment of bladder and bowel dysfunction, today announced the pricing of its public offering of 5,000,000 shares of its common stock at a public offering price of $22.00 per share, before underwriting discounts and commissions. The gross proceeds from the offering by Axonics, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $101 million. The offering consists of 4,595,000 shares offered by Axonics and 405,000 shares offered by selling stockholders of Axonics. In addition, the underwriters have a 30-day option to purchase up to an additional 750,000 shares of common stock on the same terms and conditions.
 
Axonics anticipates using net proceeds from the offering, together with its existing cash, cash equivalents and short-term and long-term investments to support the commercial launch of its r-SNM® System in the United States, Europe and Canada; to conduct SNM-related research and development activities and to fund the technological enhancement of its r-SNM System; and for working capital and general corporate purposes. Axonics will not receive any proceeds from the sale of shares by the selling stockholders.
 
BofA Securities and Barclays are acting as joint book-running managers for the offering and representatives of the underwriters. Wells Fargo Securities is acting as lead manager 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.

About Axonics Modulation Technologies, Inc.
Axonics, based in Irvine, Calif., has developed and is commercializing novel implantable SNM devices for patients with urinary and bowel dysfunction. For more information, visit the company’s website at www.axonics.com.

About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing € 1 billion ($ 1.2 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com.
 
Gilde Healthcare IV is supported by the European Recovery Program – EIF facility.

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