ALACHUA, Fla., Nov. 20, 2017 (GLOBE NEWSWIRE) -- AxoGen, Inc. (NASDAQ:AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve damage, today announced the closing of its previously announced underwritten public offering of 805,000 shares sold by AxoGen and 1,150,000 shares sold by EW Healthcare Partners L.P., formerly named Essex Woodlands Fund IX L.P., at a price to the public of $21.00 per share. The number of shares sold by AxoGen and the selling shareholder include an aggregate of 255,000 shares of common stock offered and sold pursuant to an option granted to the underwriters that was exercised in full. The total net proceeds from the offering for AxoGen are estimated to be approximately $15.4 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen. AxoGen intends to use the net proceeds from the offering for general corporate purposes. AxoGen did not receive any proceeds from the sale of shares by the selling shareholder.
Leerink Partners acted as the sole book-running manager for the offering and Cantor Fitzgerald & Co. and JMP Securities acted as co-managers for the offering.
AxoGen (AXGN) is the leading company focused specifically on the science, development and commercialization of technologies for peripheral nerve regeneration and repair. We are passionate about helping to restore nerve function and quality of life to patients with peripheral nerve injuries by providing innovative, clinically proven and economically effective repair solutions for surgeons and health care providers. Peripheral nerves provide the pathways for both motor and sensory signals throughout the body. Every day, people suffer traumatic injuries or undergo surgical procedures that impact the function of their peripheral nerves. Damage to a peripheral nerve can result in the loss of muscle or organ function, the loss of sensory feeling, or the initiation of pain.