Public Offering of Common Stock |
9 Months Ended |
|---|---|
Sep. 30, 2015 | |
| Public Offering of Common Stock | |
| Public Offering of Common Stock |
9. Public Offering of Common Stock
On February 5, 2015, AxoGen entered into an underwriting agreement with Wedbush Securities Inc. (the “Underwriter”) in connection with the offering, issuance and sale (the “ February 2015 Offering”) of 4,728,000 shares of Common Stock, at a price to the public of $2.75 per share. The Company also granted to the Underwriter a 30-day option to purchase up to an aggregate of 709,200 additional shares of Common Stock to cover over-allotments, if any.
As of February 13, 2015, the February 2015 Offering was completed with the sale of 5,437,200 shares of Common Stock, including all 709,200 shares of Common stock issued pursuant to the Underwriter’s exercise of its over-allotment option, resulting in gross proceeds to AxoGen from the February 2015 Offering of approximately $15.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen estimated at approximately $1.4 million. The shares of Common Stock were listed on the NASDAQ Capital Market. The February 2015 Offering was made pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the SEC on April 30, 2014, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated February 5, 2015.
On August 26, 2015, Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Essex Woodlands Fund IX, L.P. (“ESSEX”) for the purchase of 4,861,111 shares of Common Stock, at a public offering price of $3.60 per share (the “August 2015 Offering). The expenses directly related to the August 2015 Offering were $300,000 of which $181,000 has been paid by the Company. Such expenses included the Company’s legal and accounting fees, printing expenses, transfer agent fees and miscellaneous fees and costs related to the August 2015 Offering. Proceeds from the August 2015 Offering of approximately $17.2 million will be used for sales and marketing and general working capital purposes. The Company has provided certain demand and “piggy-back” registration rights in connection with this sale of Common Stock.
The August 2015 Offering was made pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the SEC on April 30, 2014, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated August 26, 2015.
|