Deal Details

Axonics Modulation Completes $201 Million Follow-On Offering

Healthcare

Axonics Modulation follow-on offering

Summary

Axonics Modulation Technologies, Inc. (“Axonics” or the “Company”) (NASDAQ-GS:AXNX) recently completed an underwritten public offering of 4,025,000 shares of its common stock at a public price of $50.00 per share. The offering included the exercise in full by the underwriters of their option to purchase an additional 525,000 shares of common stock at the public offering price. The total gross proceeds to Axonics from the offering are approximately $201.3 million. Axonics anticipates using net proceeds from the offering to repay all or a portion of its outstanding indebtedness of $75 million, to 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.

Baird served as a co-manager on this offering.

About

Axonics is a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction. The Company’s rechargeable sacral neuromodulation (SNM) system provides patients suffering from overactive bladder and/or fecal incontinence with long-lived, easy to use, safe, clinically effective therapy. In addition, Axonics’ best-in-class urethral bulking agent, Bulkamid®, provides women suffering from stress urinary incontinence (SUI) with safe and durable symptom relief. Overactive bladder affects an estimated 87 million adults in the United States and Europe, with an additional 40 million adults estimated to suffer from fecal incontinence. SUI affects an estimated 20 million women in the United States alone. Axonics’ clinically proven products are offered at hundreds of medical centers across the United States and abroad. Axonics Modulation Technologies, Inc. is headquartered in Irvine, California.